remortgaging multiples for benefits?

de1amo

İ have a private pension for life time , and claim incapacity benefit and disability benefit on a long term basis and i am thinking whether i can still get any sort of multiples for a new mortgage deal?
My ltv is 32 and to get my 'desired' mortgage i would need about 3.5 my benefit and pension combined -i have savings but want to keep them for a rainy day- any advice?

somethingcorporate

de1amo wrote: »

İ have a private pension for life time , and claim incapacity benefit and disability benefit on a long term basis and i am thinking whether i can still get any sort of multiples for a new mortgage deal?
My ltv is 32 and to get my 'desired' mortgage i would need about 3.5 my benefit and pension combined -i have savings but want to keep them for a rainy day- any advice?

I would have thought so, although only specific lenders would consider you.

My advice would be to go and see a good, whole of market mortgage broker. This would be best use of your time as they would be able to discuss your personal requirements and advise accordingly.

de1amo

my current lender were more than happy last time i took a deal but that was more than 3 years ago but i thought everything had changed-or maybe not!!

herbiesjp

Different lenders have different criteria, but having an LTV of 32% goes in your favour when trying to get the income multiples needed.

Benefits are treated differently by each lender, so rather than applying direct, and possibly going the the lenders that will not be able to help, I'd agree with the above advice of getting a whole of market adviser to look at this for you.

dimbo61

What does you existing mortgage revert to at the end of the current deal ?
It must do something IE tracker or SVR
Read the paperwork that came with your mortgage or ringing the mortgage centre and ask them !
GOOD LUCK

de1amo

it is currently on 2pc svr and my lender is considering me now for an offset of 4,39 no fees--the mortgage is 55k and i have a lump of cash of 23k that i want to keep accessable-i will spread my net wider though!