A years that are few, loan providers only viewed how big your deposit, your credit history along with your earnings.

Now, in 2020, the “affordability calculations” explore your outgoings in more detail. The money you owe can be a part that is important of: credit card repayments, any loans from banks, motor finance re payments, the dimensions of your overdraft etc.

The mortgage company is likewise thinking ahead to whenever interest levels may get up within the next several years.

This does not suggest a mortgage can’t be got by you when you have debts, however your debts do matter.

Let’s appearance first at the 3 items that are most crucial to lenders after which at your skill now and throughout the next half a year up to a 12 months to boost your odds of having the home loan give you want.