Is it possible to get a remortgage if a person is disabled ?

samgluck

I need to remortgage due to a projected endowment shortfall and to fund home improvements. I hope to cash in my existing endowment, using this money to fund this work.

Now that I am no longer able to work due to worsening of injuries caused whilst a soldier on active service. I am disabled living on a war pension supplemented by income support. and disability living allowance.

I intend letting a couple of rooms in my home and I was wondering will the mortgage company accept this income as earnings, when calculating my ability to service the loan, and is it possible to get a remortgage if a person is on disability benefits.

Any advice most welcome

MortgageMamma

Hi Sam

Yes there are companies who would take this income into consideration. You won;t be able to include the income support but the pension plus dla and rental income could be included

much depends on how mich you are looking to borrow? have you approached your existing lender?

cattie

Although Mortgage Mama says that there are companies who will take room rental into consideration for income purposes while living on benefits, be aware that some high street lenders will not. I speak from past experience I hasten to add.