First Choice Finance - Mortgage Broker First Choice Finance Compare Home Owner Loans
First Choice Finance - Mortgage BrokerCompare Home Owner Loans


Could payday loans harm my mortgage hopes

Could payday loans harm my mortgage hopes

 



Video transcript

Taking out a payday loan could limit your choice of mortgages, even if you pay it off in full and on time – fortunately, First Choice Finance is on hand to try and help those that have had this issue through some of their more specialised lenders.

The BBC broadcast in November that two-thirds of experts contacted by Mortgage Strategy have dealt with people who have been refused a home loan after taking out one of the quick, high interest pay day style unsecured loans.

These rejections were often immediate, without taking into account the applicant`s income or payment history. As a result, their credit scores could also take a hit as searches that are subsequently declined can reduce their credit rating, which can make life harder when they next apply for a mortgage.

However, First Choice Finance have access to personal loans, secured loans and even guarantor loans alongside mortgages for people from all sorts of credit backgrounds.

Discover how we could help you by visiting firstchoicefinance.co.uk or by calling us on 0800 298 3000 or 0333 003 1505.
 

Homeowner Secured Loans
Rates From 7.1% APRC Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property. First Choice are tied to certain loan providers.

Mortgages & Remortgages
4.5% APRC
Representative Example: Borrow £80,000 over 25 years At 4.6% Variable, £461.95 for 300 months.
Total Payable £138,585. Total Cost Of Credit £58,585 (incl £1360 fee).


Unsecured Personal Loans
REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home

First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.


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