Mortgage affordability - private school fees

iamwhatuthinkiam

Hello all

Does any one know if there is any mortgage lender that does not include private school fees in its affordability calculations. Put another way, I am looking for a mortgage lender that does not believe that private school fees are a fixed commitment for me - which I will not renege on (such as council tax).

Thanks in advance!

Paully232000

Surely it is a comittment regularly paid at the time of taking out your mortgage which should be taken into consideration and you may not find anyone who doesn't.
I only say this as we had a similar amount for two children at nursery which was in the region, combined, as a school fee would be and the mortgage co took this into consideration when agreeing our mortgage.

Maybe there is a lender willing to disregard this, I imagine, not insignificant monthly amount, but you may struggle as it is a comittment, and potentially long term one.

Thrugelmir

iamwhatuthinkiam wrote: »

Hello all

Does any one know if there is any mortgage lender that does not include private school fees in its affordability calculations. Put another way, I am looking for a mortgage lender that does not believe that private school fees are a fixed commitment for me - which I will not renege on (such as council tax).

Thanks in advance!

If you wish to bend the rules , lie and take a chance.

In no way would I recommend you do this though.

amnblog

If you are paying private school fees you obviously feel it necessary to do so and are not going to cut your kids out of school at the drop of a hat.

Higher fees means smaller mortgage - you can't have it both ways.

ACG

If the kids are of an age where they are due to finish in May/June then you might find a lender prepared to ignore it. If however they have more than a year to go you have no chance.

It is a commitment.

savit4l8er

Why do you not see them as a fixed commitment and on what basis do you want the a lender to accept you can and will renege on them?

When you have the answer, put yourself on the other side of the desk and see if what you say makes sense.

shortchanged_2

iamwhatuthinkiam wrote: »

Hello all

Does any one know if there is any mortgage lender that does not include private school fees in its affordability calculations. Put another way, I am looking for a mortgage lender that does not believe that private school fees are a fixed commitment for me - which I will not renege on (such as council tax).

Thanks in advance!

Is this a joke post?