Outgoings Question

oxigin

Hi All,

I just have a quick question that I was struggling to find the answer to.

When applying for a mortgages and the question around monthly outgoings - Does this need to include costs that are always tired to house ownership? e.g. council tax and building insurance?

Thanks

kingstreet

This will very from lender to lender.

Some ask for none of this, as they use ONS averages.

Others ask for chapter and verse, but it's usually obvious what you put in each box from the question asked.

oxigin

Okay thanks, It just say's the below

"Combined total of monthly commitments that you will be paying when your new mortgage starts. For example; Credit commitments (a loan, student loan, credit or store card). Family commitments (school fees, child maintenance or child care). Other lifestyle commitments (that you're unable or unwilling to give up)."

From the above I'd assume they aren't talking about standard monthly required costs and just referring to self-debt.... ?

kingstreet

Yes.

Your specific things others may not have.

Standard expenses we all pay are already taken into account.