‘Frivolous’ spending

Turning_Fox

I have been saving to buy my first home for years. 

  But, with the market in its current state, I wasn’t intending on buying this year. As such, I allowed myself to be more frivolous with my spending. 

   However a property has popped up unexpectedly, as a private sale, and we’ve agreed on a price. 

   However, I am now worried that my past few of months of frivolity will be my undoing. 

   I am financially solid in every other way. Always in the black, still making regular savings towards the home, and an excellent credit score etc.
   But, are the scores of Deliveroo, retail, and dining out charges likely to get my mortgage application rejected? Or will an explanation that those would not be my spending habits, with a mortgage to pay, be taken in to account? 😬

ACG

Most high street lenders wont mind. It could be that you are one of the unlucky ones where it comes down to underwriters discretion but that is unlikely. 

Some lenders may not even ask for bank statements or just the latest months worth. 

K_S

@turning_fox I'll echo what ACG said. Based on the limited info in your post, it looks like you'll be applying with a mainstream lender and you should be fine as they tend not to worry about discretionary expenditure. If/when they ask for a bank statement (not a given) they'll be using it to cross check income receipts and check for any undisclosed commitments (eg: childcare payments that haven't been declared, etc.)

Turning_Fox said:

I have been saving to buy my first home for years. 

  But, with the market in its current state, I wasn’t intending on buying this year. As such, I allowed myself to be more frivolous with my spending. 

   However a property has popped up unexpectedly, as a private sale, and we’ve agreed on a price. 

   However, I am now worried that my past few of months of frivolity will be my undoing. 

   I am financially solid in every other way. Always in the black, still making regular savings towards the home, and an excellent credit score etc.
   But, are the scores of Deliveroo, retail, and dining out charges likely to get my mortgage application rejected? Or will an explanation that those would not be my spending habits, with a mortgage to pay, be taken in to account? 😬

Windofchange

If takeaways mattered to banks I wouldn’t be sitting my fat derrière in my current home. Waiting on a nice chicken jalfrezi as we speak…

Turning_Fox

Thanks to everyone who’s replied. That’s taken a weight off of my mind. 

  I had planned to go full, beans on toast, for a couple of months before putting any offers in, as that’s what most advice for first time buyers says to do. 

   But the property I’m currently pursuing popped up completely unexpectedly. 

   The sooner I can get those keys, and order a large super supreme and some chicken tenders, the better!🍕