Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term Existing Liabilities as it relates to mortgages in the UK. Existing Liabilities Refers to all the other financial commitments apart from the existing or proposed mortgage. Liabilities will include credit cards, bank loans, car loans, maintenance payments for child support. Lenders will take these items into account when evaluating the mortgage amount they are prepared to lend. Previous 10 terms < Exchange of Contracts < Essential Repairs < Equity < Endowment Mortgages < Early Redemption Charge < Draw Down Facility < Discounted Mortgages < Deferred Interest Mortgage < Default < Credit File Next 10 terms First Time Buyer  > Fixed Rate Mortgages  > Flexible Mortgage  > Flying Freehold  > Foreign Currency Mortgage  > Form 53  > Freehold  > Further Advance  > Ground Rent  > Guarantor  >