childcare costs??

wantahouse

ok this might be a bit long winded so please bear with me!!


for my return to work in December I am intending on using a separate savings account to pay my childcare fees out off. I am going to be putting in a lump sum in order to bring down the amount I have to add into the account each month (hopefully this makes sense).
The childminder will invoice for the amount of days my little boy has attended each month, which I will then transfer from another account.
I am putting £800 into the account to start which means that I can pay £370 each month.


So my question is, when declaring childcare fees for a mortgage do I declare the £370 that I will be paying each month, or will I declare the actual childminders invoice???


thanks

David_White

You will have a finite amount of savings therefore you should give them the true childcare cost not what it is after dipping into your savings.

csgohan4

Banks/lenders may want to see all bank accounts not just the main one you use for salary incoming.


Answer questions truthfully as anything else is mortgage fraud and you risk not being able to get a mortgage at all in future.

wantahouse

Oh really - that's a shame.

amnblog

Some Lenders will ignore your childcare costs.

If affordability is tight, use a broker.

wantahouse

Thanks! Think it was poorly thought through to be honest now I'm thinking about it