Advice please!!

GIZMO231

My current 2yr fixed rate mortgage with natwest switches at the end of the month. I wanted to remortgage to release some equity. Property has been valued (135000) to allow this. Current mortgage is for 93000 and I'm looking to release 7000. Everything was going along fine and then the underwriter has said because I had a payday loan in the past 3 months they couldn't proceed.
Are there lenders who will look past this? Just after some advice or anyone had similar experience?!
Many thanks.

Thrugelmir

Is the additional £7k for debt consolidation?

GIZMO231

Not for debt consolidation as such, mainly for home improvements, a bit of a wedding contingency fund and I would clear my credit card along with the payday loan!!

Dave_Ham

Banks hate Payday Loans - it is like a blazing, red alert siren for a client that is struggling financially. In many situations it is a like the start of a vicious circle.

That said, there are lenders that would be ok with this but they may not be the absolute, market leading rates.

Good luck