BNPL schemes

Can using BNPL schemes affect your chances of securing a mortgage?

Recent headlines suggest that users of Buy Now Pay Later (BNPL) schemes like Klarna and Clearpay may be at risk of having their mortgage application declined, due to the credit agreements being factored into the mortgage affordability assessment.

The news comes as money.co.uk releases their Shop Now, Stress Later report for 2021 which reveals that one-in-six BNPL users (16%) have...