Is Anyone Lending To Benefit Recipients?

Sholafish

I am trying to get a lower mortgage rate than 6.39% . I have been knocked back by at least five high street building societies/banks on the grounds that I'm on Income Support. I have £27,000 remaining to be paid over 13 years of a 25 year mortgage. Every month I repay the capital and part of the interest myself, and the DSS makes up the remainder. I have not missed a payment in 12 years. These are virtually guaranteed repayments. My own bank is very unsympathetic and will not renegotiate until the end of my previously agreed term. Any ideas ?

Conrad

I have assisted clients on benefits in the past. The problem is that the lenders willing to assist tend to charge high rates as this type of business is considered risky.

If for some unforseen complex reason benefits are withheld the lender would find it virtually impossible to reposses you as the Judge would deem that the lender had prior knowledge that this possibility could become a reality.

Before you say 'but benefits are guaranteed' no lender will accept this as changes in Law or fraudulent claims are just 2 of the many ways in which future benefit payments could be suspended.

A freind of mine is severly disabled and can hardly move, she was born with Cerebral Paulsey however she holds down a full time job. She has no problem getting finance as a result. I respect her immensly.