Affordability Check
An affordability check is how a lender assesses whether you can realistically afford a mortgage.
1 min read Buying a Home
What it means
An affordability check is how a lender assesses whether you can realistically afford a mortgage. They look at your income, spending, debts and other financial commitments.
Example
A lender reviews your salary, monthly bills and existing loans before deciding how much they may lend.
Why it matters
Passing an affordability check is just as important as having a deposit.
Lenders consider both what you earn and what you spend.
What do lenders look at?
They usually review your income, spending, debts and credit history.