Mortgage and Chilcare

storymaker

Would a mortgage adviser take childcare costs into account when calculating how much you can borrow?

We have two children and a joint income of £2.5k per month with a mortgage of £58k (£460 per month). We pay around £1k a month in Childcare.
We're wanting to borrow another £40k to move to a different area.

Thanks x

whatyadoinsucka

many lenders now assess income and expenditure, so yes they are likely to be takern into account, when will childcare costs finish or dramatically reduce once at school

Thrugelmir

1k is a significant proprtion of your income. So will affect affordability.