well hello again this time i want to try and provide some information about this talk about payday loans affecting your mortgage application, there has been a great deal of controversy talk about this subject and i will be adding a few quotes from professional financial institutions as well.

" Halifax Building Society, part of the Lloyds group, says that payday loans are treated in the same way as other forms of unsecured debt – such as personal loans or credit cards."

In my opinion payday loans will not affect your mortgage application at all, but what may affect it would be, constantly asking for payday loans as this would be seen as a sign that you can not manage your own finances and therefore would most likely be declined for a mortgage.

But then you would also be declined for a mortgage and also personal loans if you still had an outstanding loan or payday loan that still had 3-4 months left, and also if you had renegade on a loan before or had any ccj( county court judgments) or had declared bankruptcy before.

Payday loans are easier to be accepted for due to the very high interest rate that comes with them and the fact that you are earning monthly, the good thing about payday loan is the fact that you can repay them back early in most cases therefore saving you in interest.

so again in my humble opinion payday loans will not have any affect on the outcome of your mortgage application, but just remember not to take out to many in the same year you want to apply for one, as that would affect the decision.

Always make sure you can afford to pay back loan on time

always check the rates for the loan you are applying for

check to see if you can make payments towards your loan at any time before the due date, this may help you in saving some cash on the full interest end of the loan period.

ask or check to see if there are any extensions allowed on your loan extension time.

have you checked with family to see if they can help you out before you apply for payday loan.

so whether you take out personal loans payday loans or even peer to peer loans unless you abuse them by constantly re applying for these they will not affect any decision concerning your mortgage application.Also remember that if you do not pay your credit card back at the highest rate possible this would affect your application also.