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Applying for my first mortgage
Bm1937
Posts: 33 Forumite
Hi
This year I will be applying for my first mortgage. I have all my finances in order however there is one thing I'm unsure of. I make a regular payment to a family member for sports tickets and will be making a lump sum payment to this person in may to 're new the ticket. It's not a direct debit or any credit just simply they originally pay for the tickets as the application for them is their name and I simply pay them back each month.
Should I declare this to mortgage lenders or will this not be a problem. It's approx £70 per month.
If anyone could help on this this would be brilliant. I just don't want any lenders to think I'm financially struggling. The reason I do this is convenience and have done this for around 3 years now.
Thank you
This year I will be applying for my first mortgage. I have all my finances in order however there is one thing I'm unsure of. I make a regular payment to a family member for sports tickets and will be making a lump sum payment to this person in may to 're new the ticket. It's not a direct debit or any credit just simply they originally pay for the tickets as the application for them is their name and I simply pay them back each month.
Should I declare this to mortgage lenders or will this not be a problem. It's approx £70 per month.
If anyone could help on this this would be brilliant. I just don't want any lenders to think I'm financially struggling. The reason I do this is convenience and have done this for around 3 years now.
Thank you
0
Comments
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Can it be stopped? Is it a contractual commitment?
If it can be stopped and isn't contractual then it's just a voluntary payment to a hobby
If it is contractual then you would declare it under 'other commitments'0 -
If it is picked up on bank statements, it may get questioned but it should not affect the amount you can get if as above it is not contractual.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
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