A payday loan on your credit file suggests to a lender a time when you needed money quick. It hints to them at budget issues and raises questions about affordability.
Many mortgage lenders decline applications where you have had a payday loan. There are exceptions!
If you have a 25% deposit (or equity), then there are ten's of lenders available. Otherwise, it often comes down to how recent your payday loan was taken out. The further in time it was, the more lending options are available.
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