Halifax affordability check

ksty

Hi,
Can anyone please take me through using the Halifax intermediaries affordability calculator please? My broker is currently away and we have had an offer on our house and I need to see what we can afford to take. Our previous mortgage offer ran out end of Sept (from a sale that fell through back in April) it was done before the lending criteria changed with the Halifax. Just need an idea of how much they will lend us now.
My partner is self employed so I've put an average of his last 3 years accounts in, added tax credits etc below. We have no loans, childcare etc just a small balance on the credit card which is paid off in full monthly, do I need to add anything into monthly credit commitments and the rest of expenditure?
Thanks

kingstreet

Take an average of the latest two years net profits, not three.

Enter the card balance, if anything will be left outstanding.

If the property is leasehold, put the monthly ground rent and service charges in the "mortgage costs" box.

If this is a HTB - Equity Loan case, enter a twelfth of 3% of the equity loan in the mortgage box too.

You can enter tax credits and child benefit in the tax credits box, but if these are in joint names, it has to be a joint application. If this is in his sole name and the benefits are paid solely or jointly to you, you can't include them.

Enter childcare costs and maintenance in one of the boxes too.

ksty

Thanks for the reply.

Its a sole application, but last time we were able to include tax credits as they were in joint names and paid into a joint account but not child benefit as this was in my name only, has this now changed then?

Thanks again

kingstreet

Speak to your broker.

Usually, Halifax will only allow joint income on joint application.