Joining Monzo during mortgage application

Just wondering if anyone is able to shed any light on this. My mortgage application has been approved with TSB but we’re yet to exchange contracts, and I understand that many banks will complete a final credit check just prior to completion. I’ve been eyeing up a Monzo account for a while, mainly so that my husband and I can have an easily manageable joint account to help him with budgeting.

Does anyone know if it would adversely affect my mortgage process if I opened a Monzo account now? Both of us have great credit scores with no loans, credit cards or overdraft usage, and our mortgage is about £60k less than the maximum we could borrow if that helps! I do have a broker I can ask but I assume there are more knowledgeable members on here :wink:

Fingers crossed I can open one…

I wouldn’t have thought so. However, it would be best to wait until after completion just in case.

If I was in your shoes that is what I’d do.


Hi @DaniJT,

Given how quick it is to open an account, it wouldn’t hurt to wait.

But, mortgages aren’t really based on your “credit check” so to speak (not like other types of finance) - It’s all about that disposable income (and if you have your agreement already approved, there is little I can see which will change that).

It’s also worth pointing out that Monzo will only appear on your Noddle report (not Experian or CallCredit at the moment) - To add to that, when your open your Joint Account, that won’t appear on any report yet (they don’t report the Joint Account to any credit reference agency just yet).

So, simply opening the account, will only show a “soft search” (as long as you don’t apply for an overdraft), which in theory, has zero affect on your report.

If you are worried, I’d wait (or maybe check with TSB/your broker and see what they say).

But I shouldn’t think you’d have anything to be worried about :smiley:

I tend to take quite a conservative approach when doing anything to my mortgage - reducing spending as much as possible and ensuring my credit file isn’t touched at all during the process other than for the purposes of the mortgage application.

I may be being a bit too careful but I know how jumpy risk teams can be with regards to mortgages


When I did my application with RBS, all they wanted was proof that I didn’t have any financial commitments coming from the Monzo account, so provided statements to show that.

Explained before hand that I use it as a spending account and transfer money to it monthly (which they could see)


Excellent thank you. I managed to get hold of my broker when his office opened and he has said similar really, hold off until completion. Frustrating really as I’ve been waiting since November already…!


Just a point though. Noddle is powered by Call Credit, as that’s where they get their data from. From their website: Noddle is a trading name of Callcredit Consumer Limited.

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Oops! I meant ClearScore (who I think are different!)

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Yeah, ClearScore are currently powered by Equifax.

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…which is actually now TransUnion :upside_down_face:



Very true. It’s hard to keep up with the amount of acquisitions in the market recently :smile: