If you're in the market for a home loan and are applying to multiple banks to determine which one will give you the best interest rate, don't worry about the impact of numerous home-loan applications on your credit score —  no matter what your bank tells you.

A couple from Cape Town, who asked not to be named, told Money how staff at Standard Bank recently tried to discourage them from applying to other banks for a home loan, alleging that doing so would negatively affect their credit scores.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now