Understanding what you already spend on utilities, travel costs, childcare and other regular outgoings makes sense as all those things are factored into a financial assessment for a mortgage. Therefore, going through a budget planning process is an important thing to do to make sure you are mortgage fit.
It’s a great time to review your personal finances and spending habits, with opportunity to strip out extraneous costs in advance. You may uncover Direct Debits that are no longer as vital. The classic example is the unused gym membership or magazine subscription. Cutting those costs out will only help you build your deposit and healthy finance habits.