DLA question on Mortgage

RoxieW

Hi all

I'm hoping someone knowledgeable will help me. I've recieved a question back on my mortgage application regarding a DLA payment that goes into my bank account. This is for a long term illness.

I work full time - running a business for the last two years which employs two people and turns a good profit. Will receiving DLA for an illness red flag to them that I'm not secure in my work? This is not the case.

I'm not sure what I should tell them?

It's a joint mortgage with my OH.

Many thanks in advance

kingstreet

Shouldn't make any difference.

In fact some lenders will allow some of your DLA as income in assessing affordability, so it may be a good thing.

Halifax, for example, allows 60% and requires only a bank statement to evidence it.

Dave_Ham

You should tell them the truth, always.

It will then depend upon the detail of the illness and the type of business you run.

The fact that they are looking in this much detail at the bank statements suggests it is a lender such as HSBC, Accord, Britannia and therefore by the nature of the rates they are more selective.

All the best

RoxieW

Thank you. It is Leeds Building Society.

The truth of it is that I am agoraphobic (it is more complicated than that but that is in a nutshell). However, I run my business from home.

I don't really know how much detail I need to give. The query was - please explain payment of DLA and what is refers to?

Dave_Ham

Leeds are pretty fussy, but they just need to understand the answer which is reasonable.

Tell them exactly as is, this is unlikely to cause an issue based upon my experiences with Leeds..

RoxieW

Thank you Dave.

They dont seem to be the best at putting two and two together. For example, they have queries a large lump sum of money going out of our bank account, which acually went into an ISA that we hold with them. They have also queried wages payments (clearly marked) coming out of my bank account despite the fact that they have my self employed accounts.

tightasagnats

Shelter run an advice line and they specialise in housing issues and are very familiar with benefits issues also, they may be able to give you some useful information.


Ring 0808 800 4444

They aren't just for the homeless.