Your Income and Expenses Fact Find

Your Income and Expenses Fact Find

Client(s)

In order for us to advise you regarding your financial planning requirements, it is essential that we obtain current and relevant information. Therefore, please therefore complete the following details as comprehensively as you are able. Some lenders will review this data against HMRC returns.

The Mortgage Market review is a set of regulations that came into force in April 2014. These regulations impose new tighter lending rules on all lenders in the UK market.

If you choose to omit various sections you should be aware that our advice will be based only on the information provided.

Date of completion / Amended date
Any notes on occupation, income, expenses can be added here. For example pay rise dates, loan expiry dates, etc.

Regular Commitments

ITEMS REGULAR – CURRENT / Monthly cost
Mortgage / Rent / £
Loans / HP - amount o/s and how long to go ..£ / £
Credit Cards – balance o/s.. £ / £
Utilities – gas, electricity, water / £
Council Tax – / £
Telephone / broadband / £
TV / Satellite / Cable / £
Regular Food Shopping ( weekly x 4 ) / £
ITEMS IRREGULAR AMOUNTS ( annual divide 12 )
Household expenses – prescriptions / Private medical costs / £
Household expenses - pets / £
Household expenses – glasses / eye-care / lenses / £
Household expenses - dental / £
Household expenses – grooming / £
Household expenses – clothing / £
Household expenses – dry cleaning / £
Household expenses – regular weekly shop / £
Household expenses – restaurants / takeaway / £
Household expenses – furniture / white goods / £
Household expenses - holidays / £
INSURANCE PROVISION
Life Assurance premiums / Pension contributions / £
Private Medical Cover premiums / £
Pension contribution – direct (not deducted from salary) / £
Buildings & Contents insurance / £
Accidents Sickness and unemployment Insurance premium / £
Pet insurance / Home appliance ( boiler etc ) / £
TRAVEL COSTS
Travel Expenses – Public transport costs – oyster / trains / bus / £
How many cars do you own?
Car expenses – insurance / Tax / £
Car expenses – MOT / £
Car expenses – regular parking / congestion charge / £
Car expenses – regular fuel costs / £
OTHER ITEMS
Regular Savings – holiday fund, school fees / £
Social Expenses – meals, cinema, / £
Social expenses – alcohol, cigarettes / £
FAMILY EXPENSES
Dependents – CHILD, PARENTS, OTHERS
Childcare costs – / £
Childcare costs - / £
School Fees / £
College /University Fees / £
Others – sports clubs etc? / £
Others – school holidays etc? / £
Divorce/child maintenance payments / £
Total regular monthly expenses / £

Notes.

E.G. – car loan soon to be paid off? School fees to end? Etc.

Regular Income Details

If income from employed and self employed please complete both to give full income details.

ITEMS / Monthly
Basic NET income ( if PAYE ) / £
Regular overtime / £
Bonus/ Commission - / £
Bonus paid – month / quarter / annual? / £
P11D Benefits / £
Basic average gross income ( if self –employed ) / £
Basic average net income ( if self-employed ) / £
Investment Interest / £
Rental income- and detail source... / £
Health Insurance income / £
State benefits / Child Benefit / Income allowances / £
Pension income / £
Maintenance / £
Others / £
Total regular monthly / annual income / £

Notes

E.G. – any special circumstances expected to generate lump sum income?

HOW MUCH DO YOU FEEL CAN YOU AFFORD TO PAY ON YOUR NEW MORTGAGE AND INSURANCE PAYMENTS?

PER MONTH / £

FOR ADVISER TO COMPLETE ;

Complete the next section if you are aware of the new proposed figures

ITEMS REGULAR – NEW SITUATION / Monthly cost
Mortgage / Rent / £
Service charge / Ground Rent ( leasehold property ) / £
Loans / HP - amount o/s and how long to go ..£ / £
Credit Cards – balance o/s.. £ / £
Estimate Utilities – gas, electricity, water / £
Council Tax – / £
Household Expenditure – Skytv, cable / £

FCA requirement

Total regular expenses after 1% interest rate rise ( see KFI ) / £

Assume SVR plus 3% - monthly repayments

Revised Mortgage / £

SUMMARY

Net income / £
Regular expenses – current / £
Regular expenses – following new mortgage and insurance / £

• Check against bank statements
• date of check......