Whether you’re buying your first home, next home or remortgaging, your mortgage adviser will ask you to complete a budget planner. This information helps your adviser put together recommendations that are right for you and within your budget. It’s also an important and helpful exercise for you as a home-buyer. Budgeting allows you to visualise how much disposable income you’ll have remaining after your mortgage repayment and regular outgoings, as well as identifying any cost-saving opportunities.

When completing a budget planner, try to picture life after lockdown – and your monthly spending once you’ve moved into your new home or remortgaged. Will you spend more or less than you do now?

Here are some of the regular outgoings you might include:

 

 

Remember, your home may be repossessed if you do not keep up repayments on your mortgage.