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Applying for a mortgage

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Crazy2018
Crazy2018 Posts: 7 Forumite
in Mortgages & endowments
Can someone help me please.

I’m applying for a mortgage with my partner but had issues in the past by taking several pay day loans back in 2014 (stupid I know) but I won’t be the first and won’t be the last.

Can this stop me from getting a mortgage?
Since then my finances are good. Paying everything on time.

Thank you.

Comments

  • amnblog
    amnblog Posts: 12,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    2014 seems fairly historical to cause a problem provided they were all paid in full and on time.

    Certainly a potential problem within the past 12 months.
    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.
  • Richard_Pia
    Richard_Pia Posts: 69 Forumite
    I would second that. The fact that they are over 3 year's old should mean that most lenders would ignore them.
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, 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.
  • ACG
    ACG Posts: 24,540 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    There are a couple of lenders who will outright decline with any sign of pay day loans. But as the others have said, it is not going to prevent you getting a mortgage at normal rates.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, 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.
  • Crazy2018
    Crazy2018 Posts: 7 Forumite
    It was a stupid mistake and regret it big time.

    My mortgage advisor said I got no hope in getting a mortgage with the high street lenders so I!!!8217;m so stressed out. I haven!!!8217;t slept at all and I don!!!8217;t know what to do next.

    My mum went into HSBC yesterday and spoke to them there and they said that!!!8217;s ridiculous and that shouldn!!!8217;t stop me getting a mortgage.

    I!!!8217;ve had a car finance, a loan, credit card 0% with Halifax for 29months since then. If I was such a risk they wouldn!!!8217;t have given me them?

    This is why I!!!8217;m all confused and worrying a lot because I don!!!8217;t want to let me partner down with my silly mistake.

    Thanks in advance for taking you time to reply.
  • Grezz24
    Grezz24 Posts: 234 Forumite
    Eighth Anniversary
    edited 23 March 2018 at 12:25PM
    From all the advice i have seen on the forums the common element that everyone agrees on is to see a mortgage broker who can give you the best advise based on your current circumstances(one who isnt attached to a bank or estate agent - preferably a full market one).
  • Crazy2018
    Crazy2018 Posts: 7 Forumite
    Yeah I did that and he said I’ve got no hope in getting a mortgage with the high street lenders.

    I was dealing with L&C mortgages (never again)
    He made my journey hell and wouldn’t recommend them to anyone.

    Lesson learnt though.

    I just don’t know what to do next. I feel as if I’ve ryined my future.
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