Tag: Dependents
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How Do Childcare Costs and School Fees Affect Your Mortgage?
Mortgage Affordability and Childcare Costs Explained Childcare costs can affect how much you are able to borrow on a mortgage because lenders look at your income and regular household outgoings before deciding what is affordable. For many parents, nursery fees, childminder costs, wraparound care, after-school clubs or private school fees are among the largest monthly… Read more
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Can I Get a Mortgage If I Am on Maternity or Paternity Leave?
Can You Get a Mortgage on Maternity or Paternity Leave? Yes, you can get a mortgage while you are on maternity leave, paternity leave or shared parental leave. Being on parental leave does not automatically prevent you from getting a mortgage. The main issue for the lender is whether the mortgage will remain affordable based… Read more
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Does Having Children Affect a Mortgage
Can having children affect how much you can borrow for a mortgage? Yes — lenders include childcare costs, dependants, and household spending within affordability assessments, which can reduce borrowing potential in some cases. Buying a home with children can feel more complicated, especially when lenders take childcare costs, dependants, and household spending into account. The… Read more