What to include on Agreement In Principle application for Expenditure

inquisitivewanderer

Hi,
Hoping someone knows the answer to this but I'm just checking something I was told a while back by someone I know that works for a bank.
Basically he told me that when we go through the AIP application we do not need to specify things like Council Tax or Utility Bills as these are already accounted for by the Bank when assessing your application.

Can anyone verify that this is true?
I thought from previous applications in the past that we mentioned these things but can't be 100% sure.

[Deleted User]

Depends on the lender. Basically you declare whatever they ask for.   Nationwide asks for travel, council tax, buildings insurance. Halifax doesnt ask for any, Newcastle asks for food bill each month,  Cambridge asks for all that and how much you spend on entertainment. 

You answer what the lender asks for 

Lipstick99

I used a broker. Food, service plan, council tax, all direct debits, isas, fuel, broadband and mobiles. Finance. Dental plan, gym. 
Anything thats a regular outgoing. 

xMeganCL

Nationwide were all regular outgoings including utilities like gas/electric/sky/broadband/council tax and the like, and then fuel/transport costs and food costs. 
I find food costs a hard one as it varies so much with me. 

tinytiddles

We just got ours through HSBC and the only things we needed to supply were credit commitments and childcare costs. For everything else they use national averages. 

Thrugelmir

Remember an AIP is a guide for the borrower. Leaving expenditure out may well result in a lower figure once the full application goes in. 

inquisitivewanderer

tinytiddles said:

We just got ours through HSBC and the only things we needed to supply were credit commitments and childcare costs. For everything else they use national averages. 

Thanks, this is who we are looking to go with. I did phone them in the end anyway and they said it should be fine.