Mortgages and dependents

frugs

Hi,
I'm struggling to find out the impact of having dependents on getting a mortgage. Esentially, my husband and I are trying to work out whether to buy a house first or get on and start a family. Due to our ages (33) we want to do it all!

Does being pregnant while getting a mortgage have an impact?
How much does having a child impact what you can borrow?

Thanks for any advice

Thrugelmir

Go to one of the main lenders websites and use their online affordability calculators. Will give you an idea of the likely impact.

Of course much will depend on how you provide childcare etc. Whether it's something you'll need to pay for.

nobodysdriving

it does impact, how much I don't know!

I only know that thank goodness my son is 19 and currently a 'nomad' (ie at present staying with my father, next year who knows may be 'back home' with me!), the mortgage advisor told me that if he was with me there is no way I would have got the mortgage I needed as he would have brought my affordability down. He does work but it's an unstable self employed job where he is often left at home unpaid, so he would have gone down as a 'liability' not a help at all.

so he was not put on the application nor as living with me (as he's not at present), but he can move in with me any time in future of course.