Mortgage Childcare

clouseau

Hello,

We are looking to increase our mortgage offer to the maximum and are currently paying £650 per month in childcare costs. Does anyone have any good advice on how to make this monthly payment 'disappear' from our monthly outgoings? If childcare costs were paid by grandparents would that work?

amnblog

Yes, use a good broker who will make this 'disappear' as you say.

BLOW_FLY

clouseau wrote: »

Hello,

We are looking to increase our mortgage offer to the maximum and are currently paying £650 per month in childcare costs. Does anyone have any good advice on how to make this monthly payment 'disappear' from our monthly outgoings? If childcare costs were paid by grandparents would that work?

Mortgage fraud anyone....? :T

Not the best way to try and buy a house....

Why not wait until the childcare costs are gone or look for something within your budget including them?

BF

BF

Whistler23

You could also look at the lenders that do not take childcare in to consideration.

I too was looking to have my parents pay the childcare costs, in the end we did t need to do this.

As for mortgage fraud, isn't that a bit extreme? Plenty of conversations about it for one way or an other. Wasn't there a court case in the last year or so that went in favour of the people?

Wolves0504

Natwest didn't childcare into account however included it as part of a "lifestyle expense" - i believe they use a calculation rather than full blown amount paid to assess affordability...

Nationwide said no to me initially based on affordability due to childcare but Natwest approved!

Caz3121

clouseau wrote: »

Does anyone have any good advice on how to make this monthly payment 'disappear' from our monthly outgoings? If childcare costs were paid by grandparents would that work?

are you going to receive £650 per month into your account from grandparents or are they going to pay direct so you no longer have the childcare outgoings showing on your bank statements? Depending when you are going to start this and when you plan to take mortgage, you may still need to explain this is a new arrangement as it will likely be spotted when they go through your bank statements

mcpitman

Whistler23 wrote: »

As for mortgage fraud, isn't that a bit extreme?

Not really, the OP is making outgoings and costs "disappear", when they will still be a financial commitment.


£650 is not a small amount of money, next thing will be a claim for a "Mis-sold" mortgage when they can't afford repayments anymore.