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    • prudential
    • By prudential 14th Jan 18, 10:11 AM
    • 17Posts
    • 9Thanks
    prudential
    remortgage - affordability assessment
    • #1
    • 14th Jan 18, 10:11 AM
    remortgage - affordability assessment 14th Jan 18 at 10:11 AM
    Hi! I'm looking for a lender who takes into account child support received (informal agreement, with no court order or CSA/CMO) and who also takes into account annual bonuses or a percent of them. Long term history of both child support and annual bonuses as evidenced by bank statements and P60s.

    I'm looking to remortgage to do some home improvements but also to consolidate existing credit card debt into the mortgage, and so this lender - if they exist - should also NOT include the existing credit card balance in affordability assessments, if all debt paid in full on completion. LTV would be ~55% for the new mortgage.

    Grateful to anyone who can give me some lender names.
Page 1
    • Edi81
    • By Edi81 14th Jan 18, 10:29 AM
    • 467 Posts
    • 319 Thanks
    Edi81
    • #2
    • 14th Jan 18, 10:29 AM
    • #2
    • 14th Jan 18, 10:29 AM
    You need a broker. The brokers on here can!!!8217;t give out lender names.
    • prudential
    • By prudential 14th Jan 18, 10:33 AM
    • 17 Posts
    • 9 Thanks
    prudential
    • #3
    • 14th Jan 18, 10:33 AM
    • #3
    • 14th Jan 18, 10:33 AM
    Thanks. Perhaps there are forum users who are more experienced / have been through this? I might end up going through a broker but could do with some pointers at this stage. My fixed rate will expire in July.
    • kingstreet
    • By kingstreet 14th Jan 18, 3:13 PM
    • 33,559 Posts
    • 18,196 Thanks
    kingstreet
    • #4
    • 14th Jan 18, 3:13 PM
    • #4
    • 14th Jan 18, 3:13 PM
    Depending on the size of the card debt concerned, I can think of more lenders who would do this than those that won't.

    How much research have you done? You need to open 'best buy' tables for the product you require, then hit the phone to ask each one's criteria in order.

    That's how we would approach it.
    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.
    • Thrugelmir
    • By Thrugelmir 14th Jan 18, 5:25 PM
    • 58,925 Posts
    • 52,250 Thanks
    Thrugelmir
    • #5
    • 14th Jan 18, 5:25 PM
    • #5
    • 14th Jan 18, 5:25 PM
    I'm looking to remortgage to do some home improvements but also to consolidate existing credit card debt into the mortgage.
    Originally posted by prudential
    That potentially could raise concerns. What are the sums that you'd be looking for when applying for the remortgage?
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • YHM
    • By YHM 15th Jan 18, 9:22 PM
    • 537 Posts
    • 198 Thanks
    YHM
    • #6
    • 15th Jan 18, 9:22 PM
    • #6
    • 15th Jan 18, 9:22 PM
    Sounds straight forward enough.

    Would definitely advocate using a broker, but maybe i'm biased....
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, 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
    • Gizmo22
    • By Gizmo22 6th Feb 18, 12:26 PM
    • 27 Posts
    • 30 Thanks
    Gizmo22
    • #7
    • 6th Feb 18, 12:26 PM
    • #7
    • 6th Feb 18, 12:26 PM
    Hi, I used a broker, but NatWest let me use an informal child maintenance agreement, I think I had to supply 6 months of bank statements for proof.

    If this caused my broker a headache or not I don't know, highly recommend using one, I think my child benefit was possibly used too.

    Sorry I can't help on the rest, but I'm sure some one much more knowledgeable than me will!
    • dalo
    • By dalo 6th Feb 18, 1:25 PM
    • 177 Posts
    • 35 Thanks
    dalo
    • #8
    • 6th Feb 18, 1:25 PM
    • #8
    • 6th Feb 18, 1:25 PM
    Nationwide let me use non court ordered child maintenance.

    I had to provide bank statements and a letter from the ex.
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