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Pay day loans & mortgages
Weeboots
Posts: 11 Forumite
I have been told that it is impossible to get a mortgage if you have used payday loans in the past 12 months. Is this true?
I used them 9 months ago, credit has been better since and I'm improving my credit file.
I have 50% deposit, is it possible for me to get a mortgage ?
Or do I have to wait another 3/4 months and apply ?
I used them 9 months ago, credit has been better since and I'm improving my credit file.
I have 50% deposit, is it possible for me to get a mortgage ?
Or do I have to wait another 3/4 months and apply ?
0
Comments
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Yes possible - but many lenders will reject (and not all problems go away after the year).
Depends on rest of detail on finances.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
With 50% deposit your LTV is extremely good and thus with many lenders this pay day loan shouldn't be an issue whatsoever. Speak to a broker.0
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