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Mortgage Affordability Test
saffronfromXX
Posts: 3 Newbie
Has anyone had experience of Nat West affordability calculators, I have just applied for a mortgage with them and they have asked to see 3 months pays slips and 3 months bank statements.
I always pay of my credit cards each month in full and I have checked my credit rating and it is ratted as very good.
I have take home pay of £1700 a month an normally have £500 left after expenses such as my current mortgage, food, council tax, electricity etc. I normally spend around £150 on luxury items and I am still left with £500. If my mortgage application is successful my payments will go up from £345 a month to £514 as I am hopefully moving to a bigger place.
Although I have a AIP I am petrified I will fail the affordability checks, I am starting to spend on sols fees, survey fees, mortgage applications fees....
My worry is in the last three months I have had a bid dental bill, paid for a holiday (only a couple of hundred), I needed new Tyres after somebody slashed mine so the last few months have been overally expensive and unplanned. I still did not spend more than I got paid, but I am really really worried that I might fail because the bank will think spend to this degree each month. The extra spend was paid for on my credit card and then paid off at the end of the month so it is not reflected on my bank statement (CC used for Cash back)
I always pay of my credit cards each month in full and I have checked my credit rating and it is ratted as very good.
I have take home pay of £1700 a month an normally have £500 left after expenses such as my current mortgage, food, council tax, electricity etc. I normally spend around £150 on luxury items and I am still left with £500. If my mortgage application is successful my payments will go up from £345 a month to £514 as I am hopefully moving to a bigger place.
Although I have a AIP I am petrified I will fail the affordability checks, I am starting to spend on sols fees, survey fees, mortgage applications fees....
My worry is in the last three months I have had a bid dental bill, paid for a holiday (only a couple of hundred), I needed new Tyres after somebody slashed mine so the last few months have been overally expensive and unplanned. I still did not spend more than I got paid, but I am really really worried that I might fail because the bank will think spend to this degree each month. The extra spend was paid for on my credit card and then paid off at the end of the month so it is not reflected on my bank statement (CC used for Cash back)
0
Comments
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None of what you mention figures in the NatWest affordability calculator.
Enter here;-
https://rbsintermediaries.hdddirectsolutions.co.uk/Natwest
only what is requested.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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