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Mortgage 'monthly commitments'

BethArmett
BethArmett Posts: 23 Forumite
10 Posts Second Anniversary
in Mortgages & endowments
Good afternoon,

I am looking into how much I could borrow to buy my first house. I'm a little confused in regards to monthly commitments on the affordability calculator. Can anyone advise as to weather I need to include the following:

Mobile phone contract
Union subscription (GMB)
Pet insurance
Car insurance
Car tax
Petrol

Thank you in advance!

Comments

  • BethArmett
    BethArmett Posts: 23 Forumite
    10 Posts Second Anniversary
    whether* sorry!
  • ACG
    ACG Posts: 24,834 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Monthly commitments are usually loans, leases, HP etc, but could include Union subscription and your mobile phone it there is a loan for the handset.

    The others sounds like they would not need to be included.

    However, it may vary from lender to lender.
    I am a Mortgage Adviser
    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.
  • kingstreet
    kingstreet Posts: 39,400 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    BethArmett wrote: »
    Good afternoon,

    I am looking into how much I could borrow to buy my first house. I'm a little confused in regards to monthly commitments on the affordability calculator. Can anyone advise as to weather I need to include the following:

    Mobile phone contract
    Union subscription (GMB)
    Pet insurance
    Car insurance
    Car tax
    Petrol

    Thank you in advance!
    Which lender's calculator?
    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.
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