mortgage refused due to wonga/payday loan

StuC75

Also Pay day lenders are very low downt the list of sources to get funds from. Using them shows that those other forms were not available..

Why didnt you use savings - or what you have put aside for a deposit?? Even if it took time to access that money, credit cards, Bank Temporary Overdraft would have been more appropriate and Cheaper..

gh4662

notanewuser wrote: »

What are the facts?

We don't know you - nor does the mortgage company. You say you have a good salary, but needed to use not 1 but 2 PDLs earlier in the year. Where were your savings? It screams to lenders that you can't manage your money and that you may not have a contingency fund for repairs etc if you do but a house.

I urgently needed £1000 on a Sunday, repaid the following day, my bank was shut and to take money out of my savings account would impose a bigger penalty than the £16 that Wonga charged!

You-kip

gh4662 wrote: »

Very easy to judge all Payday loan borrowers without knowing the facts.........

Whether they're facts or not I'm not judging you but lenders will as you've learnt.

gh4662

http://www.mortgagestrategy.co.uk/covers/black-mark-for-payday-loans/1062225.article

Gordon_Hose

It was Experian that lead the way to PayDay lenders reporting as Pay Day loans and not simple loans. So blame those cretins.

Not everyone who uses Pay Day loans is in financial distress.

Gordon_Hose

notanewuser wrote: »

What are the facts?

We don't know you - nor does the mortgage company. You say you have a good salary, but needed to use not 1 but 2 PDLs earlier in the year. Where were your savings? It screams to lenders that you can't manage your money and that you may not have a contingency fund for repairs etc if you do but a house.

What if you don't have instant access savings?

You-kip

Gordon_Hose wrote: »

It was Experian that lead the way to PayDay lenders reporting as Pay Day loans and not simple loans. So blame those cretins.

Not everyone who uses Pay Day loans is in financial distress.

People are in financial distress if they resort to a PDL because if they were not then they wouldn't of applied for one FACT.

Gordon_Hose

You-kip wrote: »

People are in financial distress if they resort to a PDL because if they were not then they wouldn't of applied for one FACT.

Utter nonsense from you, as usual.

CRISPIANNE3

Gordon_Hose wrote: »

Utter nonsense from you, as usual.

Even though he has changed his nickname three times he still spills out the same cr..p

_Andy_

"Is there any way I can get the information removed from my Experian credit file"

No. No way whatsoever.