Affordability - Monthly Spend on Holidays

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cammo12
cammo12 Posts: 77 Forumite
edited 6 December 2017 at 11:31PM in Mortgages & endowments
Applied for a Santander mortgage today via a broker. In the affordability section (monthly spend on food etc) the broker said that Santander use national avergaes to fill this in. Food was £700, Bills £300. But the holiday spend was £0. I just accepted this and didn't think twice and submitted. Is it bad that this is £0 even though we go on holiday?
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  • csgohan4
    csgohan4 Posts: 10,587 Forumite
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    you go on holiday every month, do you even need a mortgage?
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • cammo12
    cammo12 Posts: 77 Forumite
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    Haha, no, the requirement is average monthly spend. So if you take 1 holiday a year at a cost of 2000 then the average monthly spend is 166.
  • Neutrinno
    Neutrinno Posts: 310 Forumite
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    csgohan4 wrote: »
    you go on holiday every month, do you even need a mortgage?

    It needs a monthly average; annual divided by 12. £0 implies he will never have a holiday going forward.
    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.
  • cammo12
    cammo12 Posts: 77 Forumite
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    Neutrinno wrote: »
    It needs a monthly average; annual divided by 12. £0 implies he will never have a holiday going forward.

    So from your point of view as a broker, do you think this will be an issue? We have more than enough leeway in our monthly budget for this not to be a problem. It is just about whether or not they think it it is bad that we put £0.
  • cammo12
    cammo12 Posts: 77 Forumite
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    cammo12 wrote: »
    So from your point of view as a broker, do you think this will be an issue? We have more than enough leeway in our monthly budget for this not to be a problem. It is just about whether or not they think it it is bad that we put £0.

    Another point to add is that going forward we don't plant to go on holiday for the next few years - this is because our money will be going into the house as it requires a bit of work. So perhaps this is OK as it is going forward?
  • clairebeth
    clairebeth Posts: 299 Forumite
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    I'm still stuck on the fact that the national average spend on food is £700 a month!
  • cammo12
    cammo12 Posts: 77 Forumite
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    clairebeth wrote: »
    I'm still stuck on the fact that the national average spend on food is £700 a month!

    The £700 was actually for "food and clothes". Also I'm in the South East, and perhaps this spend varies regionally.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
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    I'd expect £700 for food and clothes for a family of 5. Not for an average family. The average household is 2.3 people. I would say, and being very generous, this is about £400 a month.
  • badmemory
    badmemory Posts: 7,791 Forumite
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    The employees at Santander obviously need to spend some time on this site re housekeeping type costs but also need a reality check regarding bills!
  • spadoosh
    spadoosh Posts: 8,732 Forumite
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    OP i doubt it will cause issues.

    As long as you can afford to pay the mortgage i doubt santander care how many or the cost of holidays you take.

    Ultimately you need a fair representation of your finances. If youre not planning any holidays for a few years putting £0 in the holiday column is fair.
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