Mortgage on tax credits?

rara_3

Anyone know which mortgage lenders take tax credits into consideration? I get a small amount of tax credits to help pay for my childcare and top-up my income (I work part-time) but firstdirect and Abbey have both told me they will not count is part of my income. I do already have a mortgage and its abot 55% of house value and I've never defaulted, so I'm not a bad risk but I'm coming to the end of a 2year deal and am ready to change. Any ideas?

UK007BullDog

Cannot remember which lenders does this so suggest you find a fees free broker or two and ask them to help you with this. There are not too many lenders that will take them into account. It is mostly the adverse lenders that will but also a couple of high street ones like the Woolwich, maybe the Birmingham Midshires. But I am going from memory so cannot say definately which lender does as they constantly change their criterias as well.

herbiesjp

Are you sure you really need to take these credits into account? Some lenders may be more flexible with their income multiples based on your earnings alone seeing as the loan to value is 55%

HTH

pcyam

abbey take child and working tax credit currently take these as primary income (therefore 1 times the annual amount) but take child benefit only as secondary (therefore half the annual amount).

Not sure about other lenders

southern_chick

My mortgage is with Abbey and they took Child and working tax credits into account along with child maintenance

HTH

SC XX

pcyam

southern_chick wrote:

My mortgage is with Abbey and they took Child and working tax credits into account along with child maintenance

HTH

SC XX

child maintenance with court order only and shown on bank statements.