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DLA as income
Comments
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Using the Halifax affordability calculator, excluding the DLA, the maximum borrowing is £118,635 over 25 years.
If the DLA was allowed, the output increases to £129,165.
Your deposit should be added to the mortgage amount to tell you your maximum purchase price.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.0 -
If you want the DLA to be considered 'income' then presumably you want to borrow more. If you borrow more, then your repayments will be more. Where will you get the money for that increase - from the DLA? It could be argued that that's not really what DLA is intended for, it's meant to cover the increased costs of caring/mobilising your child. I guess it's debatable whether a house in a nicer part of town counts as "care" ...:heartpuls Mrs Marleyboy :heartpuls
MSE: many of the benefits of a helpful family, without disadvantages like having to compete for the tv remote
Proud Parents to an Aut-some son 0 -
Tigsteroonie wrote: »If you want the DLA to be considered 'income' then presumably you want to borrow more. If you borrow more, then your repayments will be more. Where will you get the money for that increase - from the DLA?
By moneysaving, I get excellent advice on utilities, tv package, etc from a wonderful website, meaning our outgoings are quite low. Because of the disability, we don't have the usual childcare costs as we work opposite (me days, OH nights) so one of us is always with our son. If you have read the thread, I merely asked if it was considered 'household income'. I don't make the rules but am happy if they work in our favour.0 -
Tigsteroonie wrote: »It could be argued that that's not really what DLA is intended for, it's meant to cover the increased costs of caring/mobilising your child. I guess it's debatable whether a house in a nicer part of town counts as "care" ...
...of which there are many. It is and it does cover them.0
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