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Online mortgage calculators
whirlwind147
Posts: 6 Forumite
Hi,
I'm looking at renewing my fixed rate mortgage in the next couple of months and have been looking at various online calculators.
I'm looking at offloading a loan onto my mortgage but when I fill out all the online calculators they ask what current loans you're repaying etc so they can calculate what they'll lend you.
If I'm looking at not having the loan when I remortgage can I just leave that amount as £0 or do I still need to fill in the details as they are now?
Thanks for reading and to any that reply
I'm looking at renewing my fixed rate mortgage in the next couple of months and have been looking at various online calculators.
I'm looking at offloading a loan onto my mortgage but when I fill out all the online calculators they ask what current loans you're repaying etc so they can calculate what they'll lend you.
If I'm looking at not having the loan when I remortgage can I just leave that amount as £0 or do I still need to fill in the details as they are now?
Thanks for reading and to any that reply
0
Comments
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The rule of thumb is to include all debt/commitments that will continue post completion and leave out those that won't.
Whether the lender will allow you to consolidate existing debts on to your mortgage is a different matter.0 -
Take care!
Some lenders include in affordability credit which is to be repaid on or before completion.
Santander and Platform are two such lenders.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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