Mortgage while on benefits

everkeen

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?

Fran

everkeen,

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

Fran

cattie

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.

regularsaver1

why bring up a post from 2005?