Can i get a sole mortgage even though i'm married?

JEWISHPRINCESS

But it is ok to "waste"/spend tax credits on paying off a private landlords mortgage? As if people on tax credits are prohibited from getting a mortgage, which is seemingly what a lot of you want then they will have no choice but to rent privately seeing as council properties are so scarce.

Not only that but they will have no secure accomodation seeing as the standard 6 month AST provides little security for renters.

[Deleted User]

From the HMRC website:

"Tax credits are payments from the government. If you're responsible for at least one child or young person who normally lives with you, you may qualify for Child Tax Credit. If you work, but earn low wages, you may qualify for Working Tax Credit."

This would suggest that the 'aim' of tax credits is to either help parents raise their children, or else help low earners top-up their income.

Let's be realistic: we all know that tax credits were introduced to help low-earners boost their income to support their family. Not for people to get a foot on the property ladder.

"They (like all benefits) are for you to keep your family and pay your household bills. So why not pay it on a mortgage instead of wasting it on rent?"

You've missed a key point here: the OP does not yet have a mortgage. They are using their tax credits to obtain a larger mortgage than they could otherwise without them. It's not a case of them using tax credits to pay an existing accommodation cost; they're using them to obtain a larger, more expensive property.

If they applied for a mortgage without the tax credits but then used them to make payments towards the mortgage, then perhaps your comment would be valid. But they are trying to use benefits from the government to increase the size of the house they could get.

It's just my opinion (and I'm sure others share it), but it just doesn't seem right to me, especially as the OP is only on £6k a year anyway.

BigDave81

I have nothing useful to comment but would love to know how OP gets £9k in tax credits?!?!?!

My wife earns roughly £6k a year and gets no way near that amount, it's a tiny fraction and we have 2 children and I earn a very basic low wage in an office job.

Worlds gone mad haha

gaylet_2

bunglejemson,

Think we will have to agree to disagree on this one as we are going round in circles. Lets hope you are never in the unfortunate position to claim benefits and then maybe you won't be so judgemental.

However, I will correct you on point. I am aware the OP does not have a mortgage but is wanting one, however you have missed the point that she wants a mortgage to buy her current council house - not to buy a bigger better different house. Please reread. So again I would say that I think she is definitely being financially prudent in wanting to invest and own her own home rather than pay wasteful rent.

[Deleted User]

gaylet wrote: »

bunglejemson,

Think we will have to agree to disagree on this one as we are going round in circles. Lets hope you are never in the unfortunate position to claim benefits and then maybe you won't be so judgemental.

However, I will correct you on point. I am aware the OP does not have a mortgage but is wanting one, however you have missed the point that she wants a mortgage to buy her current council house - not to buy a bigger better different house. Please reread. So again I would say that I think she is definitely being financially prudent in wanting to invest and own her own home rather than pay wasteful rent.

If I did find myself in the unfortunate position of being on benefits, then I would hope I don't use them to apply for a mortgage.

It's all largely irrelevant anyway, because as other posters have said, the lenders will only take the credits into account for the period she has them. And on an income of 6k pa, even with 9k benefits, what sort of mortgage is the OP going to be able to get?