Affordability Tests

teffers

Hi all,

I have a question regarding the new(ish) affordability tests, in regard to a lender looking at my spending etc on my current accounts.

My concern is how they would view my current account / spending.

My wages are paid into one of my TSB high interest accounts, I then save between £500-£1000 per month (for the last 2 years), I then pay my rent / keep to my GF (£400) and finally I transfer my disposable allowance into another current account.

This is where my concern is, I pretty much spend all of that on things like restaurants / take aways / games (all the normal crap people with expendable money do lol). There's nothing like gambling or other 'flag' type spending, just standard stuff, but a lot of it.

So my question:

Will a lender look at my spending and be concerned in terms of affordability ? Or does the fact I'm currently saving so much negate that and they would realise I'm only 'wasting' my spare money ?

My mortgage is likely to be between £500-£650 p/m and I take home £1600 (£1800 when bonuses are included).

I think I'm being a little paranoid about the process so any advice would be welcome.

Malmo

Refer to this post from @kingstreet. Should help to put some perspective on your concerns.

teffers

Malmo wrote: »

Refer to this post from @kingstreet. Should help to put some perspective on your concerns.

Thanks Malmo, really appreciate the link.

I'm being looked after by a broker so that is even more reassuring.