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Advice? mortgage with payday loans&defaults pls!!
Comments
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Well actually... we weren’t desperate lol? Like it said in the advertising “can help your credit rating if paid off on full” that is why we did it
Complaining because of the above0 -
Well actually... we weren’t desperate lol? Like it said in the advertising “can help your credit rating if paid off on full” that is why we did it
Complaining because of the above
It's a shame you weren't on this site at the time!.
The problem is that having a payday loan and paying it off does probably increase your credit rating generated by payday loan companies so they could argue it is correct (although still generally misleading to people who don't know a lot about it).
But when it comes to credit such as credit cards, loans and mortgages then your credit rating generated by them will be negatively affected by these loans.
If you haven't already go and look on the credit file part of this forum and read up about ways to improve your credit worthiness such as paying off a credit card in full each month. Then start doing this to build up a good history for the future.
But don't apply for a credit card especially to do this or any other credit as you may be able to get a mortgage fairly soon.0 -
Thankyou, just spoken to Wonga, looks like we will be getting 2016 ones removed....a little bit of good news :cool:0
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Can someone help me? I’ve had a history of credit cards and payday loans. I’ve recently been accepted for a mortgage and haven’t had a pay day loan for a while! However on Monday I took £50 from a payday loan company and paid it back 2 days later. Will they withdraw my mortgage? As I’m due to exchange end of next month!0
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Well.... there is still a little hope for us! The area manager from precise has said he is going to have a look at it for us .... just need to have a very strong bank account etc no overdrafts... no charges which we haven!!!8217;t, our banks are spot on.... fingers crossed0
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Not sure, don’t quote me on this but if your mortgage is already agreed then I doubt they will look at it again? So won’t know ?0
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