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Cheers. That's really helpful to know.
As I said it's more that I meant to do it earlier so I keep looking at it as possibly 6 months +joining bonus rather than 1-2.
On the tenants in common point. Yes. But I was adding that aside from the legal ownership structure you want a predetermined exit and provision for when things go wrong.
If Dick and Sally break up and want to sell their share, but you can't buy them out, what happens? Or if they turn out to eat all your cheese and never wash up, how long do you have to stick it out for?
hugo7
Having worked for banks in the past, savings accounts, bonds and ISAs generally don't have credit checks On application as you have no ability to borrow against them, they don't appear on your credit file at all, so should not affect the mortgage.
If you are getting an account from a brand new bank however, they may do a credit check as you are new to them.
If the purchase takes an extra couple of months, then the extra interest you get will be pretty minimal, particular compared to any hassle in transferring large amounts of funds close to exchange (no internet banking access, lost access details, requirement to find a branch to send a CHAPS transfer etc)
If you already have a mortgage agreed and an offer in place, very rarely do the lenders recheck your credit score, unless you tell them of a material change, address change, job change, etc. I've seen people apply for home improvement personal loans, car finance, open joint bank accounts etc without negative effects, though credit applications are definitely not advised until you complete.
(If the purchase falls though and you have to reply for a new property, with an interest only credit card opened and a £15k loan, things can get complicated)