Payday loans on mortgage application

oc77777

We are in the process of buying our first place with my girlfriend, I have an old satisfied default from 5 years ago for £97 which a broker has said wont be an issue at all as it was an old phone bill. Other than that both of our credit scores are good or perfect in her case.
My questions is however, for many reason, none that I neccessarily want to go into I have had pay day loans in the past. I have probably over 5 year period taken out about 15 of these, always paid on time with the last one being taken out about 10 months ago. Since then we have got enough for a deposit with our savings and help from parents.

Will these pay day loans stop me from getting a mortgage even if paid on time?
Thanks for any help!

ndf9876

For what it's worth, I'm aware of anecdotal evidence suggesting it's possible to get a regular high-street mortgage, with around 12 months' gap from your application to your last payday loan.

I'm not an expert by any means, nor a mortgage broker. My personal feeling is that if the rest of your credit file is spotless, the 10 months will probably be enough time.

oc77777

Thats great, from what I have heard some lenders are ok with it but some see it as an inability to manage funds correctly, which I guess was correct as of a year ago.

If any one has had any past experience or knows of lenders that don't see it I would really appreciate it.