What classes as monthly outgoings?

bmac78

Hi All,

we are looking at moving house and when considering what the lenders will offer what do they class as monthly outgoings. We have almost 0 on credit cards (under £100) but a monthly loan repayment of around £ 120. Then theres the usual council tax, gas, elec etc and also we have nursery fees (we use childcare vouchers as both our employers do the pre-tax voucher scheme). Are nursery fees included?

Thanks

HappyMJ

Anything you spend is an outgoing. Nursery fees are included but you only need to use the amount that you contribute towards the fees from after tax salary rather than the full amount. Your vouchers would have already reduced your gross income.

bmac78

HappyMJ wrote: »

Anything you spend is an outgoing. Nursery fees are included but you only need to use the amount that you contribute towards the fees from after tax salary rather than the full amount. Your vouchers would have already reduced your gross income.

Thank you!! :T

kingstreet

Loans
HP
Card balances, normally 5% taken
Maintenance
Student loan
Childcare.

It's worth remembering, many lenders will allow tax credits and child benefit, as part of your income.