Can I take on any new credit agreements before applying for a mortgage?

Any new application for credit can affect your credit file negatively. We strongly recommend you don’t apply for new credit shortly before applying for a mortgage or at any time during the mortgage process. New credit agreements and searches can hinder your credit score as every search is registered on your credit file. Too many searches in a short space of time can be viewed as “desperately seeking borrowing”. This can potentially reduce your mortgage options and, in some cases, cause an agreement to lend or a mortgage application to decline.