Childcare costs and getting a mortgage?🙈

[Amateur bob]

Good morning, i am looking to build a house on the farm and will need to apply for a self build mortgage soon, my wife has £440/month coming out of her account each month to pay for nursery fees, how much will this affect the amount i can borrow?

My son is 4 and will start school next year, are lenders likely to take this into consideration and see it as a temporary cost or will they still include it in their calculations? Just wondered if anyone else had experience of this?

 

Thanks

[nod]

Will count as outgoing s unfortunately 

[Amateur bob]

54 minutes ago, nod said:

Will count as outgoing s unfortunately 

the halifax mortgage calculator reduced my borrowing capacity by 57k when i included this 440 per month as outgoings which i found unreasonable, ive asked my parents if they will look after him and they have agreed,

 

do u think i can leave it out of the application now even though it will show up in the last 3 months of my wifes bank statements?

[joe90]

I would get your parents to write a letter they are taking over the childcare, mind banks are a law unto themselves but worth a try.

[Onoff]

Just don't online gamble! 

 

https://news.sky.com/story/money-consumer-personal-finance-latest-13040934

 

No problem if you take cash out and drink to excess, smoke, give it to your dealer though! 😄