Mortgages and childcare costs
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We have one with santander, my son was 2 when we got accepted and we paid full child care. If all else fails you get 15 hrs at 9months from September 24. So if you can hold out then might be accepted then xx
Why don’t you try going through a mortgage broker to see what options you have or doing a mortgage in principle yourself online through L&C
@Jessica I have done, also got an appointment tomorrow with an advisor, I’m just wondering if anyone’s got any insight x
@Ellen ohh sorry now realise what the DIP stands for 🤦🏽♀️! Ok good luck I’m also happy to private message a broker I used a few years ago if that helps ?
It's about affordability. If you have high costs compared to your income then you aren't a safe bet for the bank to lend you money for a mortgage. It sounds like you can't afford the mortgage you're after at the moment. We're going to have two kids in nursery soon costing about 2.5k a month so I totally feel you! Could you both try compressed hours to cut down on a day or two of childcare? Or go for a cheaper house?
My husband is a mortgage advisor and is fee free do you want to speak to him? X
My uncles an independent mortgage advisor I can reach out if you'd like and he may be able to help he's based down south but I'm sure he can cover the whole country
@Caroline she will only be in childcare for 2 days a week which is £500 a month, we get £3,900 a month salary after tax. We pay £825 for rent at the moment and the mortgage repayments would be around £1,100 a month so I’m not sure why we can’t. We’ve never been in debt and have perfect credit scores. The highest it’s saying we can get is £180,000 which isn’t even close to a house here
Mortgage will take into account if one of you looses your job, the other person can pay all the bills. How may year are you looking at, maybe go for maximum length, you can always lower term at renewal
Panic over guys, just realised I’ve been putting an extra 0 on what’s left to pay off our car so it’s 180,000 😭 it’s working now
Nationwide are very family friendly mortgage lenders x