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Mortgage while on benefits

Does anyone know of a lender who will take benefits as an income for a mortgage?
I get DLA and IS but lenders seem not to want to take all the income into account when working out their lending multiple, and so only offer a paltry amount.
Any recommendations?

Comments

  • Fran
    Fran Posts: 11,281 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    everkeen,

    I am moving this to the mortgage board as they have a lot of knowledge about mortgages there.

    Fran
    Torgwen.......... :) ...........
  • cattie
    cattie Posts: 8,841 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    High street lenders no longer take income support into consideration for mortgage purposes, so this part of your income doesn't count.

    You also need to be aware that income support will not pay interest on a mortgage which is taken out while claiming means tested benefits such as IS. Only people who already had a mortgage at the time of their intial benefit claim qualify for help with mortgage interest payments.

    However, if you are severely disabled & your home isn't suitable & need to buy a property more suitable for your needs then income support may help with the interest payments, but you would need to have them confirm this beforehand.
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • regularsaver1
    regularsaver1 Posts: 4,930 Forumite
    why bring up a post from 2005?
This discussion has been closed.
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