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5% deposit and Payday loan

Bobthebuildercanyoufixit
Bobthebuildercanyoufixit Posts: 39 Forumite
10 Posts Name Dropper
in Mortgages & endowments
Hi,

Does anyone know if it is possible to get a mortgage with a deposit of 5% if i have payday loans shown on credit file? Most recent payday loan was used 10months ago and was paid in full straight away after taking out.

thanks

Comments

  • EmzJenks
    EmzJenks Posts: 218 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    I think it's really unlikely at 5%, maybe speak to a mortgage broker. 
  • K_S
    K_S Posts: 6,893 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    @Bobthebuildercanyoufixit Unless I'm confusing you for someone else, you've been on the hunt for a mortgage for a while now. Have you or your broker tried any 95% DIPs or applications?

    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. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • Kirkii27
    Kirkii27 Posts: 134 Forumite
    Third Anniversary 100 Posts Name Dropper
    Hi I remember talking to you a while back. I have been accepted with Santander. Maybe try them. My ltv is higher but you never know you could give it a try!
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