Income for additional lending

Deductions from Income 

The following outgoings must be declared: 

• The monthly costs of all debts which will remain in place on completion of the mortgage are included as a deduction within affordability
• Any credit cards to remain in place on completion of the mortgage are included as a deduction with 3% of the total credit balance being taken
• Monthly costs of any childcare/school fees 
• Monthly costs student loans 
• Monthly costs of any mortgage payments that do not meet the self-financing rules or are not going to be let out 
• Overdraft - 3% of latest total outstanding month end balance 
• Monthly costs of any property charges - ground rent/service charge/estate rent charge(s) 
• Monthly costs of any regular maintenance payments 
• Monthly costs of any other significant outgoings