which outgoings do they take into account in mortgage applications apart from bills?

ceb1995

As above, we're looking to apply for a mortgage next year and I'm wondering which outgoings all providers seem to take into account for example tesco seem to take into account food spending and clothing so is this something we should expect from all providers? So we know where we could try and further cut down as we've no travel costs or car at the moment.

YHM

You will be asked about your monthly food shop and your monthly clothing spend, but largely these are to ensure affordability can be evidenced of your new mortgage.

Lenders dont scrutinise bank statements penny to penny, they generally ensure bank statements are 'clean' and are well maintained, as well as ensuring they represent the figures disclosed during your application.

It would be worthwhile you make contact with a broker, as they may have a budget planner that would detail the budgetary areas you will be asked about during your mortgage application

amnblog

The only things worth looking at are regular payments you don’t need to make. They wont be considering your specific food bill.

ceb1995

YHM wrote: »

You will be asked about your monthly food shop and your monthly clothing spend, but largely these are to ensure affordability can be evidenced of your new mortgage.

Lenders dont scrutinise bank statements penny to penny, they generally ensure bank statements are 'clean' and are well maintained, as well as ensuring they represent the figures disclosed during your application.

It would be worthwhile you make contact with a broker, as they may have a budget planner that would detail the budgetary areas you will be asked about during your mortgage application

Thank you for your reply. We certainly will be filling in the application with statements in hand to ensure the figures are accurate, I can go weeks without purchasing any clothes so will come up with some sort of average figure and ensure that my husband doesn't buy more than necessary on his clothes in the mean time.

ceb1995

amnblog wrote: »

The only things worth looking at are regular payments you don’t need to make. They wont be considering your specific food bill.

Thank your for your reply. So you're referring to subscriptions and entertainment costs? I'm not sure we could get them any further as I know i can't get my husband to cancel his gym membership.

amnblog

You do not need to worry about clothes expenditure (unless you are loading up credit cards).

Speak to a Broker, I sense you are making much more of affordability than you actually need to concern yourself with.