Existing Liabilities

Existing liabilities. This phrase simply refers to all the other financial commitments apart from the existing or proposed mortgage.

Liabilities will include credit cards bank loans maintenance payments to ex-spouse and school fees etc.. Lenders will take these items into account when evaluating the mortgage amount they are prepared to lend.

See also Moneyextra.coms Mortgage Centre and Mortgage comparison Service for the latest facts and figures.

Moneyextra.com recommends you take independent financial advice before acting on any article

2009-02-17 00:00:00 © Moneyextra.com