Payday loans put mortgage applications at risk of refusal
People who have taken out short-term, high interest loans may be risking rejection by mortgage lenders, it has emerged.
Lender GE Money has confirmed that it will not approve applications from borrowers who have had one payday loan in the last three months or more than two in the last year.
And companies that provide credit checking services are coming under increasing pressure to highlight payday loans on customer credit checks.
People who have taken out short-term, high interest loans may be risking rejection by mortgage lenders, it has emerged.
Lender GE Money has confirmed that it will not approve applications from borrowers who have had one payday loan in the last three months or more than two in the last year.
And companies that provide credit checking services are coming under increasing pressure to highlight payday loans on customer credit checks.
For more on this story, go to: http://www.mortgagestrategy.co.uk/latest-news/payday-loan-history-threatens-mortgage-applications/1054360.article
Helpline Callback
If you’re unable to call our free debt helpline number 0800 043 40 50 right now, you can fill in the form below and one of our advisors will call you back at a time of your choosing.