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Mortgages and tax credits

WYSPECIAL
WYSPECIAL Posts: 786 Forumite
Part of the Furniture 500 Posts Name Dropper Combo Breaker
in Mortgages & endowments
Hi,

anyone know of any lenders that will take CTC into account? Looking to re-mortgage to buy out ex. Wanted to find out maximum I could be lent to cover the current mortgage and some unsecured debts plus what else I could raise to offer ex.

Any advise gratefully received!

Comments

  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Are the tax credits the only or main income?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • WYSPECIAL
    WYSPECIAL Posts: 786 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    No. Salary is the main income. Tax credits top it up though.
  • ladymarm
    ladymarm Posts: 19 Forumite
    In same situation as you sadly. santander will but only when i have 3 months worth of bank statements showing the tax credits. Halifax will too.
  • kingstreet
    kingstreet Posts: 39,445 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ladymarm wrote: »
    Halifax will too.
    Specifically, Halifax will take 100% of working tax credit and 60% of child tax credit and child benefit.

    The tax credits are evidenced by one month's bank statement or the HMRC award letter. Child benefit requires no verification.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • HughIvar
    HughIvar Posts: 1 Newbie
    Are the tax credits the only or main income?
  • WYSPECIAL
    WYSPECIAL Posts: 786 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    HughIvar wrote: »
    Are the tax credits the only or main income?

    No, as previously posted salary is main source of income. Tax credits in place two years and current mortgage paid in that time.
  • themull1
    themull1 Posts: 4,299 Forumite
    Nationwide took mine into account, and child benefit.
  • Nins12345
    Nins12345 Posts: 48 Forumite
    We've just had this issue woolwich wouldn't neither nationwide but Halifax did
This discussion has been closed.
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