Mortgage and Student Loan

injectionday

We're currently looking for a new house and I've spoken to a couple of morgtgage advisors and been told we shouldn't have any problem getting a mortgage (both got secure jobs, will have 25% deposit from sale of current property and want to borrow 2.5 times joint salary). I've told the advisors that we have no credit cards or other debts but I've just realised that partner has a student loan. Will that be taken into account? The repayments are taken straight from his salary every month so we never really think about it which is why I forgot about it when talking to the advisors. When working out our monthly budget and what we can afford to pay out each month we always use his take home salary (after the loan payment). Thanks for any advice

ACG

2.5x salery is quite low, so even with the student loan on top it shouldnt be an issue. Lenders will take it into account but just let your broker know when applying so they can take it into account before recommending anything.

injectionday

Thanks ACG