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Direct debit contracts
Hanger_boy89
Posts: 118 Forumite
I'm applying for a mortgage soon but have 2 direct debits on my account that are due to end in April and June. They form just over £100 together - when I apply for the mortgage, is it possible to put on there that they will be ending before I complete on the mortgage, so that they can take this into account when looking at my affordability?
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Comments
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Direct debits for what?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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One is for the gym (1-year contract) and the other is my phone contract, which I'm ending when it finishes in june0
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Such issues are lender-dependent with some being uninterested and others including them in affordability.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Well I'm going with NatWest so I'm hoping they won't be concerned with it0
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According to their lending criteria, loans with less than 6 months to run are not included. Which means you declare them but state they have less than 6 moths to run.0
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Ok thanks. They're not even loans, just rolling contracts but they'll both be up before I complete, so hopefully they won't even count them0
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Presumably though you will be taking out some other form of mobile phone contract?0
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No I'll get a pay-monthly sim for £10, much less than the contract I'm currently on0
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This shouldn't cause you an issue with NatwestI am a Mortgage BrokerYou should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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