To think Halifax should take my exes childcare contributions into account

[Lmox]

Currently going through divorce proceedings and have spoke to Halifax mortgage advisor over the phone to see how much I would be entitled to. As part of the process they asked me about childcare costs. I explained that our total monthly childcare bill was £860 but I only pay half of this and my ex the other half. The mortgage advisor said that she would need to key in the total amount to ‘stress test’ my eligibility as if my ex didn’t pay I would need to foot the bill. Is this fair? It makes it seem like I have hardly any expendable income.

Can you not separate the bill to invoice each parent separately therefore show only your cost!

That’s usual. Same with maintenance payments.

You need a whole of the market mortgage advisor but yes their right to consider what happens if your ex decides to give up work or earn less.

I had this with another bank. Fundamentally they're looking at risk. If he stopped paying (for whatever reason), you'd have to pay to be able to work. It's annoying - I had to take my mortgage over a longer term (then overpay) because of it

I suppose though they need to test the possibility that in the future you may (through no fault of your own) suddenly end up in a situation where you have to pay the entire amount because they or you can’t be guaranteed that another person who is not part of the checks being carried out can be relied on.

Too late now but maybe you should have just given them the number you pay?

I think though if you pass this check it actually shows you have a cushion if something changes in the future in another area.

Its not just if he didn't pay - if he died/moved away/went missing/went to jail/insert other reason why he disappeared - the responsibility would be yours. Its a bill you have responsibility for.

Ok thank you. My confusion was because my friend who is a mortgage advisor with another bank says that they only factor in whatever portion you pay in their process. Should have went with them instead I suppose!

You can still go with them, or an independent. Just because you have started the process with Halifax doesn’t mean you can’t shop around.

What I would say though, is they are trying to sell you a product- they won’t be being mean for the sake of it. If they don’t think something is financially prudent I would bear it in mind.

Just tell them hiw much you pay don't tell them how much the total is just your share