# Any Mortgage experts on here?



## Leemack (Mar 6, 2009)

When applying for a mortgage, do lenders use credit history alone or do they also use outgoings/incomings to base a decision?

Thanks


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## Y15HAL (Aug 29, 2006)

as far as i know, they all check credit history...not sure about outgoings, but most would want to see payslips aswell.......


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## sjj84 (May 8, 2010)

From recent experience, they'll ask your earnings and for an estimate of your monthly outgoings. They didn't ask for proof for any of it though, however I went to the bank that I have my normal bank accounts with so I suppose it would of come up on their computer anyway.


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## Leemack (Mar 6, 2009)

Thanks for that.


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## APK (Oct 6, 2008)

They will all credit check, most now use affordability as opposed to straight incme multiples.


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## SteveOC (May 26, 2007)

When I remortgaged last year, my lender wanted to see multiple payslips despite the low loan to value. 

Two years prior to that, when I switched to a fixed rate mortgage, I did the whole thing over the phone and then signed a form that they sent me.

In 2002, I didn't have to provide any proof of income until the valuation of the house came in slightly low and tipped the loan to value into a different bracket so they asked to see payslips.

The silly thing is that I used to manage the software that produced the company payslips, and also designed the forms as well as having access to the printers, and the stationery (although I could print them on any laser printer given the stationery) so despite not having to do so, I could have produced a Payslip or P60 that said whatever I wanted it to.
It is even more meaningless now since the company put pressure on eveybody to move to electronic 'delivery' of payslips and access/download their payslip as Acrobat PDF files and in fact in some cases I scanned and emailed (or just emailed) payslips to lenders which could have been doctored quite easily using software on a PC.

Steve O.


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## Barrie (Apr 5, 2010)

out goings wont matter to much but say your paying off a loan it will show up but it shows up as amount of credit

so if you have 5 credit cards with 0 balance but have 20k's worth of credit available it may not work in your favour

but if you have a car loan of 5k and another loan for a 5k holiday and your paying out £400/month it wont show the 400/month it will show 10k's worth of credit owing


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