Mortgage on incapacity benefit

cydney65

Hi OP,

I too have fibro, I also have lupus and RA. I get IB, DLA and a pension. I have obtained a mortgage while on benefits but found it easier in the first instance to go through a mortgage broker as he was a bit more up on what was available at the time, but I'm sure a more confident person would be able to negotiate with the mortgage providers direct. I'm not sure if my IB was considered as regular income but my DLA and pension were.

Just a thought, you may get more advice on the disability board.

HTH

CydneyX

PS. I echo what SingleSue says. My good days would be most people's bad days and being dependant on benefits in no way compensates for my loss of a good job, good income, social life and pain-free existence.

minimadtrix

As IB is not means tested, it is classed as an income such as a wage, as does your pension. I assume you've checked out the banks' online mortgage calculators?

minimadtrix

cydney65 wrote: »

Hi OP,

I'm not sure if my IB was considered as regular income but my DLA and pension were.

When we have applied for a mortgage, my hubby's DLA was not included in our calculations, just the IB

ILW

fethiye2003 wrote: »

Hi, i want to buy my council flat on the right to buy scheme.
I am on long term incapacity benefit £360
+ pension £125 = £485 per month
what are my chances of getting a mortgage as there will be £25,ooo equity with my discount.
I will never work again because of my illness which is not terminal.
I am 44 and have a house in turkey worth £80,000
thanks in advance.

What would happen if, for example the council to put a new roof on the block and set you a £10,000 bill?

cydney65

minimadtrix wrote: »

When we have applied for a mortgage, my hubby's DLA was not included in our calculations, just the IB

Thanks for that minimadtrix. Discussing it with OH just now I got it wrong but in respect of her benefits, as her DLA was indefinite, it was included. Complicated eh?!

CydneyX

Jomo

fethiye2003 wrote: »

I do not rent my property in turkey as i live there 6 months a year.
the plan is to buy my rtb flat and sell it back to the council or rent it out.

So you want to buy your flat and either sell it or rent it out? Where will you live then? (When you are in England of course?).

Also, consider you will need a heftly deposit for any mortgage, not many 100% ones left if at all!!

Personally, in my opinion, I don't think you should be able to do it.

minimadtrix

cydney65 wrote: »

Thanks for that minimadtrix. Discussing it with OH just now I got it wrong but in respect of her benefits, as her DLA was indefinite, it was included. Complicated eh?!

CydneyX

Ooooh, that's interesting, hubby has DLA for life but was told couldn't be used. Will check it out again when we remortgage in Sept.