mortgage and number of children?

[tostaky]

is there a relationship between getting a mortgage and having x number of children.
we are thinking about a new house AND a third DC and i am wondering how it will affect our credit rating.
Any ideas? experiences?
DP is main income, I am on mat leave and earn half of what DP earns.

I might be talking out my arse here but I seem to remember reading that now that they are tightening up on mortgage lending they are taking into account things like nursery fees to determine whether you can afford a bigger mortgage.

If you always pay your bills on time your credit rating should be fine.

DH was muttering something about this recently. They are now taking into account your out goings, so a family of five will obviously have a higher food bill than a couple.

As an aside, I think taking into account outgoings such as food and nursery fees is quite sensible on the banks behalf - stops crazy lending practices that get people into trouble.

Sorry I can help with the OP though.

But one family could eat cheaply and another of smae number may be very fritherless and spend far more.

I would have thought 40% outgoings on mortgage and then going up to 60% tops

We just had a mortgage agreed and they went all through our fixed outgoings including childcare (dh was on the phone for 2 hours), and we nearly didn't get the mortgage because of childcare costs - until we pointed out that we only have one more term of childcare to pay for ds1 till he goes to school.

They are being much more careful. About bloody time if you ask me. I really felt like saying "If you had bothered to ask all these questions of people for the last 10 years I wouldn't need to be borrowing this much money now."

Funnily enough they didn't ask about our food bills though. Must have their own models for that.