Mortgage application - underestimated what I spend on food

[FingersXrossed]

We've found a fab house and had offer accepted. The mortgage will be in my name only but DH will be helping with bills.

Getting a mortgage through a broker. Had to fill in a form (pre application) with info about job, outgoings etc and it got approved by the lender. Need to pull together evidence of income, bank statements identify documents etc for the actual application.

Anyway I've put the wrong figure against the part about food spending. It's at least 1.5 x more than I put! Is this likely to count against me when they see my bank statements? I have been buying extra things for shielding family members but still not as much.

I think I've to redo the form because I already made a mistake on it (so that's another credit check needed) so should I mention that I messed up the food figure too? Am also embarrassed at how much we eat

Thanks for any comments.

no, I don't think that will affect much. don't worry about it

Only a personal opinion, but as long as you can afford the monthly outgoings including mortgage, food, utilities, childcare, social, presents, etc, etc - I wouldn't bother telling them the new figure

I wouldn’t say anything.

If they ask tell them your parents need shopping brought in so you buy theirs at the same time as your own and your mum squares you up later with cash so you’re not out of pocket so that’s why you didn’t say anything previously.

I guessed mine. I had vague idea and went with it. No one ever asked anything about this. Don't worry.

No the budget is a general affordability exercise. I filled mine in and then managed to send a black version to the mortgage advisor and she wasn't bothered at all. Its just to make sure you have sufficient excess income to pay your mortgage.

I didn't even know you were meant to give this level of detail. We only told our broker about childcare and school fee costs. No other details were asked. I'm sure it will be fine. Food costs vary anyway.

Banks are predominantly concerned about fixed, regular spending that you can’t or won’t give up. Such as loans, credits, insurance, mobile phone, internet, TV, childcare, household bills like water & gas etc. They’ll potentially draw an overall picture of your spending from your bank statements ie. do you go overdrawn every month suggesting you aren’t living in your means, but they are not looking at your food shopping in any detail at all. We applied via an online broker so has to enter all our details in the app ourselves. At no point did anyone ask about food shopping or clothes shopping etc.. and it’s because these are things you can adjust. And will adjust if you need.

Thanks everyone! I ended up speaking to the broker about it and he said it didn't matter, so that's fine! I didn't have to provide that info for my last place - was just payslips etc but I didn't go through a broker then so maybe it's different. All sorted though :)

When do you need to provide this kind of information ? My first mortgage application is on progress and they only asked for 2 months bank statements and payslips - nothing else about how much I spend on shipping or anything?

Agree with @MoirasRoses - the fixed costs are what count

Years ago on a loan application, in between applying and receiving the loan, I realised I had answered the cost of food with a weekly amount and the question asked for monthly. They didn’t even look at the reply. It was massively incorrect. They just lent me the money.

They've already done a credit report and seen that I've always paid my previous mortgage etc in full on time so hopefully it will be ok! I just worried they'd think I was lying about stuff. But yeah I never got asked for this info the last time but maybe brokers do it differently? No idea.

I can just be based on the brokers questions most banks have moved on and just use ONS figures for those costs