Can I get a mortgage with missed payments and pay day loans

Kpet · 22 November 2021 at 11:56AM

Hi there,

My partner and I are looking to get a mortgage in the next 2 years. His credit file is clear, however mine has 2 separate missed payments (unsecured) from 2020, which were the settled the following month and I also had 2 pay day loans in 2020, which were paid as required. So by the time we are buying our home, these issues will all be around 4 years old.

Is this likely to affect our chances of being approved by high Street lenders?

If not, are there any that are more likely to accept us?

[Deleted User] · 22 November 2021 at 12:06PM

You'll be better off asking on the mortgages board.

MEM62 · 22 November 2021 at 4:39PM

By that stage two missed payment will not have a huge impact. However, payday loans suggest that you are sailing close to the wind in terms of managing you money each month. That will be the bigger issue. A mortgage is not impossible but you may need the assistance of a broker and you might not get the best rates.