Lenders will frequently ask you to define all financial commitments, known as existing liabilities, before deciding how much they are prepared to lend.
Loans and other repayments which are taken into account by lenders when you apply for a mortgage.
Expenses taken into account by a mortgage lender when assessing an applicant's ability to repay the loan. These include loan repayments, maintenance payments etc.
Your debts, including an existing mortgage, hire purchase, personal loans, school fees etc.
This phrase simply refers to all the other financial commitments apart from the existing or proposed mortgage. Liabilities will include credit cards, bank loans, maintenance payments to ex-spouse and school fees, etc. Lenders will take these items into account when evaluating the mortgage amount they are prepared to lend.
This term is used by lenders to define all other finance commitments apart from the existing mortgage. This will take into account such items as bank loans, HP, credit cards, maintenance payments(to ex-spouse) etc. Most lenders will take these items into account when assessing how much they are prepared to lend and will usually deduct 12 months' payments from gross annual income before applying their normal income multipliers.
A lender will take into account your existing liabilities when assessing whether or not you can afford the mortgage. The liabilities will include balances owing on credit/store cards, hire purchase agreements, child maintenance, school or childcare fees, etc. Due to the credit checking policies employed by most lenders, the borrower is obliged to disclose all such outgoings.
