Affordability Calculator - how do we find one?

Hopejack

Just reading a few threads in partic the Abbey one! And wondering how I can go about getting hold of the 'affordability' calculator that some of the lenders seem to use these days to work out 'average' outgoings etc.

We will be looking to apply for a mortgage (hopefully) early Spring. I'm not working as I'm at home with my two young children so it's just on my DH's pay. We don't have any credit commitments at all but do have a fair amount of outgoings each month - just household bills and expenses/food etc.

We are currently renting and managing the rent OK and our mortgage would be about £200 pcm less!

Thanks

Kavanne

Most of the lender's websites will tell you how much they might lend if you put in your income

If you want Abbey: http://www.abbey.com/csgs/Satellite?appID=abbey.internet.Abbeycom&c=GSInformacion&canal=CABBEYCOM&cid=1210618119200&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FGSInformacion%2FWC_ACOM_MortgageAffordCalc

Hopejack

Sorry, that's not what I meant - probably didn't explain properly. Some lenders use an 'average' spend calculator to see what your outgoings are etc as a type of affordability calculator - this can quite dramatically affect how much you can borrow obviously.... Just wondering if I can get hold of one to see how much they'd let us borrow without applying - as I said, we have no credit as such but do have quite a bit of outgoings each month!

Kavanne

My lender didn't ask me anything about outgoings that weren't credit related....

They might ask about dependents, I think the A&L mortgage calculator asks about dependents.

Hopejack

Thanks. I think a few people on the Abbey thread mentioned that they did consider things like monthly outgoings not attributed to credit as well.... I'll post a qu on there.