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PCP / Mortgage

g00217810 · 2017-12-30 11:11:40

When assessing mortgage applications, how are lenders typically analysing PCP Finance? Are they; 1. looking at the monthly PCP payments alongside potential Mortgage repayments & assessing the ability to meet both 2. Is the final PCP settlement figure taken into account at all To me it seems they are just factoring in the…

30-12-2017 11:11am

#1

g00217810

Registered Users, Registered Users 2 Posts: 13 ✭

Join Date: September 2011

Posts: 8

When assessing mortgage applications, how are lenders typically analysing PCP Finance?

Are they;
1. looking at the monthly PCP payments alongside potential Mortgage repayments & assessing the ability to meet both
2. Is the final PCP settlement figure taken into account at all

To me it seems they are just factoring in the monthly outgoing, and the ability to meet the same alongside the term of the mortgage?

Any clarity appreciated

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Comments

#2 04-01-2018 2:20pm

Trish56

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Join Date: November 2012

Posts: 1244

They will take into consideration your currently monthly outgoings.

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