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Mortgages and payday loans
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
I know that payday loans are some of the worst things you can do generally, but specifically in terms of getting a mortgage! I foolishly took out some a few years back, all have been paid off for almost a year though.
They don’t show up on my Experian or my Equifax reports, just on Noddle… does this mean if I apply for a mortgage they might not be able to see them? Should I keep quiet? I earn double now than I did when I had the payday loans (which is the reason I had them at the time) and I can well afford the mortgage I am after, will this have a serious effect on my chances?
They don’t show up on my Experian or my Equifax reports, just on Noddle… does this mean if I apply for a mortgage they might not be able to see them? Should I keep quiet? I earn double now than I did when I had the payday loans (which is the reason I had them at the time) and I can well afford the mortgage I am after, will this have a serious effect on my chances?
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Comments
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A potential mortgage lender may well search all 3 of your credit files.
If a lender does search callcredit and see these then having had payday loans within the last year could impact on their decision.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
They may take them into account so save as much as you can to maximise your deposit and reduce the amount of money you need to borrow.0
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You dont need to mention them. If its paid off then thats fine. You dont need to mention previous loans just current outstanding commitments.
You are not hiding anything.0
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