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Voluntary Child Maintenance Payments

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Hi Guys

I am in the process of looking for a property and have heard various different things from different people about voluntary child maintenance payments. Some people have said because we have agreed a price and no enforcement has been made, I don't need to declare this to the bank/mortgage company. Is this true? I can see what they mean as I am paying by standing order but not sure what to do?? It would help my affordability if I didn't include it obviously?

Any help would be great

Thanks
Current Debt
Net Monthly Pay £2550
[STRIKE]Barclaycard £0 / £2500 (23.9%)[/STRIKE]
[STRIKE]Lloyds Credit Card Settled[/STRIKE]
Lloyds Bank Loan £10200 - £456 / 36months
Debt Free Dream:01/04/15
«1

Comments

  • Not to declare it as a cost/liability would be an act of mortgage fraud - and an easily identifiable one.
    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 ForumTeam
  • Not to declare it as a cost/liability would be an act of mortgage fraud - and an easily identifiable one.

    Well this is what I thought! It was actually someone from a bank who told me this!
    Current Debt
    Net Monthly Pay £2550
    [STRIKE]Barclaycard £0 / £2500 (23.9%)[/STRIKE]
    [STRIKE]Lloyds Credit Card Settled[/STRIKE]
    Lloyds Bank Loan £10200 - £456 / 36months
    Debt Free Dream:01/04/15
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Just because someone works in a bank means very little.

    While you pay voluntarily the maintenance could be enforced by an attachment to earnings. So should still be viewed as a commitment. Something which would be apparent from your bank statements as well.

    There's little point in deceiving yourself either with regards to affordability.
  • pollyanna24
    pollyanna24 Posts: 4,390 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    On the flip side of this (and sorry for gatecrashing the thread), can I use the voluntary payments that my ex gives me towards my two girls as part of my income?
    Pink Sproglettes born 2008 and 2010
    Mortgages (End 2017) - £180,235.03
    (End 2021) - £131,215.25 DID IT!!!
    (End 2022) - Target £116,213.81
  • Thrugelmir wrote: »
    Just because someone works in a bank means very little.

    While you pay voluntarily the maintenance could be enforced by an attachment to earnings. So should still be viewed as a commitment. Something which would be apparent from your bank statements as well.

    There's little point in deceiving yourself either with regards to affordability.

    When you say deceiving myself I currently have £2200 disposable after the payments and the guy in the bank said why don't you just give her say two or three years worth out of my deposit. If I pay her two or three years worth of maintenance in advance is that fraud then?? In the end any one can get a house and then a year later say get a loan and have monthly payments to make.
    Current Debt
    Net Monthly Pay £2550
    [STRIKE]Barclaycard £0 / £2500 (23.9%)[/STRIKE]
    [STRIKE]Lloyds Credit Card Settled[/STRIKE]
    Lloyds Bank Loan £10200 - £456 / 36months
    Debt Free Dream:01/04/15
  • Some lenders (not many) will allow all or percentage of such payments, depending upon the other components involved, towards affordability provided consistent payments can be evidenced for between 6 and 24 months (depending on lender).
    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 ForumTeam
  • On the flip side of this (and sorry for gatecrashing the thread), can I use the voluntary payments that my ex gives me towards my two girls as part of my income?

    My ex partner has used the maintenance payments but I think it would depend on the age of your child
    Current Debt
    Net Monthly Pay £2550
    [STRIKE]Barclaycard £0 / £2500 (23.9%)[/STRIKE]
    [STRIKE]Lloyds Credit Card Settled[/STRIKE]
    Lloyds Bank Loan £10200 - £456 / 36months
    Debt Free Dream:01/04/15
  • ACG
    ACG Posts: 24,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Bank staff will tell you what it takes to get you into an appointment.

    It would need to be declared.
    I am a Mortgage Adviser
    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.
  • An underwriter is likely to ...
    1) question a recent large payment of that nature
    2) look back at several month's payment reords
    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 ForumTeam
  • An underwriter is likely to ...
    1) question a recent large payment of that nature
    2) look back at several month's payment reords

    So you think if you tell the underwriters that the payment was too pay my ex partner in advance for years worth of maintenance they would have an issue with that?

    Like I said I don't know as I've never had a mortgage before. I know my ex would certainly like the lump sum! :rotfl:
    Current Debt
    Net Monthly Pay £2550
    [STRIKE]Barclaycard £0 / £2500 (23.9%)[/STRIKE]
    [STRIKE]Lloyds Credit Card Settled[/STRIKE]
    Lloyds Bank Loan £10200 - £456 / 36months
    Debt Free Dream:01/04/15
This discussion has been closed.
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