We are looking for advice please.
We are 2 months from our 6 year anniversary having completed our IVA last year. All Credit files are primed and ready to have glowing reports in the next few months. We hope to apply for a standard Mortgage at some point this year. A very long time coming.
Anyways I am quite annoyed, let me explain. At the very start of our IVA we were made to apply for completely new bank account, once we had applied it came with a £500 Overdraft we did not cancel it nor did we use it but it was just there. That continued for the 5 years of the IVA no problems at all. Once the IVA completed last year I have to say I have used the overdraft very strictly always paid off each month.
We are now 2 months from being completely IVA free and the bank have contacted me to say they have decided to reduce the Overdraft to £50. Whilst some consider this a good thing I see this as a negative and I would very much like it to remain at £500, the bank can not confirm why this has been done and will only appeal with a proper credit check. I have been honest and explained the reason why that is not a good idea.
The reason I am on here is because of the ridiculously poor Customer Service I would like to move bank accounts. I have another Current account with another bank which has been used a couple of times over the years but obviously this is not my Main account. I would like to move my salary and Direct Debits from my 1st bank bank account to my spare account.
As I am not applying for a bank account how could this affect my Credit file when applying for a mortgage. Will it be a negative if my salary is suddenly being paid into another account?
Looking forward to your advice
I imagine the reason they have reduced the overdraft facitlity is because it wasn't being used. My bank has recently done the same to me and cited that reason.
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