LSAP and FTB

lufc7

hello all, Me and my wife are almost in a position to start the long process of home buying.
The figures are I earn £31365
Wife earns £5382
Can we count child benefit at £1742 per year, in income?
We are looking at houses in the £130000 mark and we currently have £10000 deposit and are hoping to have £13000 by June. On top of this I will be applying via work (armed forces) for LSAP (long service advance pay) of £8500 to help with deposit and fees.
Our only major issue credit score wise is a default from almost 6yrs ago which should fall of 4th April this year(approx 2 weeks) once this falls off, can any one see any major dramas from our plan? And does anyone know if or which companies are happy to accept LSAP as part of the deposit! Especially if Natwest do because they are our bank and have been for nearly 7yrs.
Thank you in advance

ACG

Most lenders will accept the LSAP.
The default shouldnt be a major problem due to the age and size of deposit but double check with any lender before you apply what their stance is on defaults.

lufc7

Thank you for your input, has anyone on here recently used LSAP? If so what have your experiences been like? And can anyone on here clarify whether mortgag lenders include benefits in their income calculators? Cheers

lufc7

Bump - hoping someone could shed some light cheers

StrawberryTwist

Hi,

We are a forces family having just gone through a mortgage application, now waiting to exchange!

We used a broker as I'm not sure what your address/posting history is like but for us it's been a long time since being in the UK! That caused us some problems.

I'm pretty familiar with the Lsap scheme but I don't know about benefits being allowed, sorry.

If you want to 'chat' about anything or want details of the broker we used (understood forces speak!) feel free to PM me, happy to help when I can.