Lenders who consider maintenance/child tax credit/Carers allowance etc

darcicles

Hi, Does anyone have any details of which lenders will consider the following as additional income: Maintenance payments, Child tax credits, child benefit, carers allowance and disability living allowance?

We need to move house to be nearer to Great Ormond Street hospital for our baby who was born disabled, as a consequence of his disability I am for the time being unable to work and have become his full time carer. My partner has a resonable salary, we will however, be moving to a far more expensive area and would therefore be limited to the size of property we could purchase if a mortgage was to be based purley on his income without taking into consideration the additional income I have, albeit it not directly through employment. We would have approximately a 40% deposit.

So far, I have only managed to come up with the Halifax for maintenance and child tax credits but they don't mention any other benefits that can be considered.

Many thanks

feisty1

yes haifax they do accept DLA/CTC/Carers Allowance/

This all varies from lender to lender....take the advice of an independent mortgage adviser, this is part of their job to be familar with who offers what and where the client is best suited

space_rider

I`ve been to GOS with my daughter who has a life threatening illness and they saved her life.

Be careful about getting a mortgage based on those payments. DLA gets renewed every so often and if they reduce the amount you can get then you won`t be able to meet the payments. Only do if if you are 100% sure that your childs condition won`t improve enough for them to reduce the allowance. Abbey also take alot of some of them into consideration. Also depending on your child/childrens age you won`t get some of the benefits forever. There are plenty of people who have come unstuck when their child has come out of full time education. Also what if another government get rid of tax credit.

DelBoyPhil

when i got my small mortage with hsbc they said they would not take tax credits due to the gov may remove them if labour is removed lol

sarahb

Newcastle Building Society always used to allow my child maintenance as income (last mortgage with them 5 years ago). When I recently remortgaged with HSBC the adviser said they would consider the maintenance if my other income wasn't quite enough for what I wanted to borrow, although this wasn't necessary in the end.

darcicles

Thanks for all the replies. I'm hopeful that I'll be able to go back to work in a few years time when my little one starts school, he's 18 months at the moment. Until he has major surgery his condition is likely to get worse rather than better, so he will therefore still in receipt of DLA. I wouldn't consider taking a mortgage as a long term thing based on carers/dla it's just an interim thing as once he goes to school I will be able to get a job as they will have to send carers/nurses with him to school - something which they're not obliged to do at the moment if I want to go to work. Also it's really only for no more than additional 20-30K on the mortgage but will make the difference to the type of house we will be able to buy - that is unless the prices crash even more once we've sold our house!

I will look into getting an independent financial advisor and save myself all the hard work.

Many thanks again to you all.

seikothrill

Intelligent Finance used to accept various types of benefits but not too sure about now so they could be worth a shout

lil'H

Abbey accept some of those, though maintenence only by court order/