Asking for my neighbour who wants to move this year.
She says she has about £80,000 profit in her house so value (assuming she gets it, less balance of mortgage to pay off). She has debts of about £18,000.
When looking online all lenders ask for details of debts in working out what she can borrow but she wants to pay off these debts with the profit. This will leave her with a lower deposit but she's ok with that. She jut wants the debts gone.
How does it work? Should she leave off the debts or still include them. Will including them reduce what she can borrow? Thanks.