Do Halifax take childcare costs into account for mortgage application?

Nutnic

Hi,
Does anyone know if the Halifax will take my childcare costs into account for my mortgage application.

We already have a DIP but we weren't asked by our IFA about childcare costs. Now for the application they have taken a copy of my working tax credits award notice which states the childcare.

The childcare is optional as I do have family that could look after the kids but I feel pre-school is better for their development and more reliable. I have checked the new mortgage will allow for this in my budget and it does (my husband also has a second self employment income that Halifax are not taking into account)

I'm just now concerned as we are borrowing not far off our maximum lend and wonder if the childcare will take us below what we need?

scotty197340

Hi,

Yes most lenders will require your Childcare costs to be entered into the affordibility section of the application.... Have you looked at other lenders criteria for your husbands second income, all Lendes can vary on their rules slightly....

GwylimT

We moved in February and our childcare costs were taken into consideration and treated in the same manner as any other cost we had.

John424

I was never asked by Halifax back in the glory days of 2006!