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Mortgage 'monthly commitments'
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BethArmett
Posts: 23 Forumite
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!
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!
0
Comments
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whether* sorry!0
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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 AdviserYou 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.0 -
Which lender's calculator?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!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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