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National average expenditure in MMR
kellysaxo
Posts: 70 Forumite
Hi Can anyone tell me what they consider the average outgoings for a single person in wales is.
My broker has said that full expenditure won't be used as they use a national average.
thanks
My broker has said that full expenditure won't be used as they use a national average.
thanks
0
Comments
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No. Lenders use figures supplied by the Office Of National Statistics.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Can you tell me what they assume this is for a single woman with no dependents in Wales.
Thanks0 -
No. I'm sorry, I have no idea.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Blonde or Brunette?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
redhead actually!!0
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If this is the case why did I have to do a full income and expenditure disclosure for my broker, I spent hours on it!kingstreet wrote: »No. Lenders use figures supplied by the Office Of National Statistics.I don't get nearly enough credit for not being a violent psychopath.0 -
In the OP's case, her lender uses the ONS figures, in your case your lender wants chapter and verse, using your figures in full.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Varies with age / size of property / county (or sub region of county) so depends upon the data set selected by the lender in their MMR criteria (which varies by lender).
The income and expenditure analysis is primarily to pick up anything over the standard expenditure (and items such as pensions, savings, insurances, pets etc which are generally not included).
So in answer to your first question - no I can't !!Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Aaaaah redheads - my favourite ! No offence meant to blondes, jet black et al (all most acceptable to me)Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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According to my ONS demographic, I spend on average approx £400-800 per month on "leisure", although what this covers exactly I'm not sure. The only flaw with this is as someone with social anxiety and depression, I do not fit the demographic. In fact, I struggle to spend more than £100 a month on food. A "fat month"
But hang on, can't worry the lender by telling them you have depression, can we?
It's a bit poor, tbh. But I guess that's how some lenders "keep costs down" by using bulk data to calculate this stuff on mass.0
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