Disposable Income helps the lender identify how much you can afford to borrow and repay.
Disposable income refers to the amount of money that you have got left in your account on a monthly basis after all of your regular payments have been debited. So, for example, your mortgage, your utility bills, and your cost of living. We would look at your, or the level of disposable income in your account. In order to verify whether or not an additional monthly payment, i.e. loan repayment, would be affordable to you on a monthly basis. If you have any other questions, come and see us at Close Finance.

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