Mortgage Question

darrenwis

Hi,

I am trying to find out when applying for a mortgage will they just do a credit check and access it on my income details etc. Or will they also assess it on how much of a student loan I have remaining even if my monthly payments are only £30 per month. When I say student loan I mean the government funded one and not one from the bank.

Can a student loan have a major bearing on the decision?

Thanks
Darren

Trying_to_be_good

Darren

They'll take account of all your income and commitments, including the student loan, but it shouldnt affect the affordability too much as the monthly commitment is minimal.

How does the rest of your credit report look? Any other loans/credit cards? Missed or late payments? Electoral roll? All these will have an impact, too!

darrenwis

One other loan with 5k on it. within the next month there wont be any credit cards and no late or missed payments.