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Mortgage with PayDayLoans history.
seoguy
Posts: 22 Forumite
Hi Guys,
I am struggling to get a mortgage because I had two defaults from PayDayLoans back in November 2012 - one from Wonga and one from QuickQuid. Both of the defaults were satisfied and paid.
I met a mortgage advisor last week and he said there are some lenders who will lend me but the problem is I had another PayDayLoan from Sunny last year (I only got this just to improve my credit history) I didn't know how bad PDLs are!.
I have a decent deposit, I am self-employed and have 2 years of accounts my net profit is £37,000 a year. According to experian my credit rating is 744 which is Fair. I have 2 credit cards one from Barclays, one from Lloyds, they both are paid in full. I have an overdraft of £5,000 from Lloyds and its been paid off and currently not being used.
There must be a solution for my circumstances, shall I write letters to Wonga, Sunny and QuickQuid requesting to remove their records from my file or whats the best way forward? The property prices are increasing and I seriously need help ASAP.
Please help!
Thanks
I am struggling to get a mortgage because I had two defaults from PayDayLoans back in November 2012 - one from Wonga and one from QuickQuid. Both of the defaults were satisfied and paid.
I met a mortgage advisor last week and he said there are some lenders who will lend me but the problem is I had another PayDayLoan from Sunny last year (I only got this just to improve my credit history) I didn't know how bad PDLs are!.
I have a decent deposit, I am self-employed and have 2 years of accounts my net profit is £37,000 a year. According to experian my credit rating is 744 which is Fair. I have 2 credit cards one from Barclays, one from Lloyds, they both are paid in full. I have an overdraft of £5,000 from Lloyds and its been paid off and currently not being used.
There must be a solution for my circumstances, shall I write letters to Wonga, Sunny and QuickQuid requesting to remove their records from my file or whats the best way forward? The property prices are increasing and I seriously need help ASAP.
Please help!
Thanks
0
Comments
-
Will depend on your deposit and your current debt levels I think.
If you have a 15 % deposit and your current debt levels are minimal I think you will be ok. Halifax seem to be the most lenient of all high street lenders in this situation. But definitely engage a broker.
Good luck!!0 -
Defaults from Payday loans are hardly Halifax territory.
Consult a mortgage broker.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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