Payday Loans: Can They Affect Your Mortgage Application?

Thinking of taking out a payday loan? Perhaps this will make you think again. A recent report by the BBC has highlighted that fact taking out a payday loan has the potential to harm your chances are successfully applying for a mortgage in the future, regardless of whether the loan was repaid on time or not.

“Nearly two-thirds of brokers contacted by trade publication Mortgage Strategy for Newsnight had a client turned down for a mortgage after a payday loan.”


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s