Obtaining a mortgage after taking out a payday loan can be difficult, sometimes feeling impossible with most high street lenders unwilling to consider an application after if you have been in a debt management plan within the last 6 years. At Plus Financial solutions we have lenders that will consider applications even if you still have a payday loan outstanding.
How long after taking out a payday loan can you apply for a mortgage?
We currently have lenders who will consider an application 12 months after you have taken out a payday loan, assuming you have made at least the last 12 months payments on time and not suffered any additional credit issues. Typically you would need at least a 15% deposit to be considered.
Contact us today to see how we can help you secure a mortgage after taking out a payday loan!