Does switching your home loan hurt your credit score?
Short answer: comparing doesn't hurt your score at all. Only formally applying with a new lender creates a credit enquiry — and that's a separate, later step.
Soft check vs hard enquiry
A soft check — the kind Switcheroo uses to show you a comparison — estimates your likely rate and eligibility using information you provide, without touching your credit file. It's invisible to lenders and has zero impact on your score.
A hard enquiry only happens when you formally apply for a specific loan. It's recorded on your credit file, visible to other lenders, and can lower your score slightly for a short period.
Why this matters when refinancing
Some people avoid comparing at all because they worry it will "look bad" to lenders. In reality, the comparison step is exactly where you should look broadly — it's free, has no credit impact, and lets you commit to only one formal application at the end.
Frequently asked questions
Does comparing home loans on Switcheroo affect my credit score?
No. Comparing on Switcheroo is a soft check that does not appear on your credit file or affect your score. A credit enquiry only happens later, if you choose to formally apply with a new lender.
What's the difference between a soft check and a hard enquiry?
A soft check estimates your eligibility and rate without leaving a mark on your credit file. A hard enquiry happens when you formally apply for a loan, is visible to other lenders, and can temporarily lower your score by a small amount.
How many hard enquiries is too many when refinancing?
Multiple hard enquiries in a short period can signal risk to lenders. Comparing broadly first with soft checks, then applying formally with only your chosen lender, avoids stacking up unnecessary hard enquiries.