Mortgage advice FTB

Pash167

Hey guys
So I am planning to go for a mortgage in 5-6months.
However I am concerned about my payday loan use (last one will be 15 months old by application) but there's 20+ going back on my file. I have 1 late payment on gas from 2015. Other than that an loan which will be down to 7k at £205 a month. Our CC are less than 400 combined. 916 experian score for what little that means. My partners credit file is clear. We have 1 child who will be living with us + 1 child I pay csa for.

Combined we earn £40k basic pretax + overtime at around 10k pre tax. Are committed spend is at £500 a month (inc loan/phones/sky/csa). On basic after the above we have £2050 left. This is disregarding our current rent etc that won't be paid when we buy and also overtime.
We have 10k in LISA isa + will have a few K extra for fees/household items when we move. Looking at upto 200k house price.

1)I am certain I need a broker but when should I approach one.
2) Can we even get a mortgage or should we put it off before we waste time/money.

Any advice is much welcomed.

ACG

Pay day loans are usually a sign of "other things" - it sounds like that may not be the case for you?

Assuming it is not, then you should be able to get a mortgage. Yes the pay day loans will be a deal breaker with some lenders but not all and it should not prevent you from getting a "normal" mortgage, it will just restrict your options.

Speak to a broker, no mad rush but no harm doing it sooner rather than later either.

You will be fine from what you have said.

Pash167

Thanks ACG I was hoping you would reply. Been going through these forums for the last few months and you've given good advice to other posters.

I did have a bad habit, it's no excuse but I lost my way and got into an debt cycle. But since being focused on buying a house it's given me the drive to change. I used to have 2x the debt but it's going down every month. I certainly won't be messing up again! Thank you for your advice, I've been stressing myself out thinking I would let my partner down.