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Wonga account
leereni
Posts: 377 Forumite
I took out several payday loans 3 years ago. I read my call credit report today for the first time and found these were added to the report. Unfortunately I was late paying on one but obviously settled not too long afterwards.
Given they are 3 years old and this is increasing all the time what effect would this have on my credit file if applying for a mortgage?
Given they are 3 years old and this is increasing all the time what effect would this have on my credit file if applying for a mortgage?
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If everything else has been clean since, this episode will be drifting off towards oblivion, but won't be there yet is my guess.
Of all the forms of credit, PDLs are the most toxic for your record as they indicate serious money management issues.You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0 -
Like everything else, it will depend on loan to value, but I'd suggest staying away from NatWest.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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What about halifax?
Sorry the account was settled 4 years ago and not looking at buying until another 3-4 months minimum.0 -
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Id also suggest staying away from natwest, they informed me I would never be accepted whilst there was a record of a payday loan.
I'd nsuggest going to a whole of marker broker, this is what my husband and I did and have successfully gained a mortgage after being turned down by natwest
Trying to be more money savvy and less wasteful in 2013
Sealed Pot Challenge 6 #20230 -
One other skeleton. About 3-4 years ago I was behind in a loan but caught up and settled it 18 months ago.
Other than that I have paid all debts on time for the past 3-4 years and they have come down in the past 12 months so I owe nothing.0
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