fostering & mortgages?

redwood1_2

Having been to halifax today just to inquire about what they could offer as a mortage, i was surprized to hear that they could infact offer me nothing? Even though we earn a regular income and have permenant placements and proof of all earnings we were still turnned away! I understand that alot of what we earn is seen as 'allowances' but no one wants to touch us. Having come away from halifax deflated we seeked advice from a local independent finacial advisor who dismissed us straight away! Has anyone else had such a problem? Can anyone lead me to the answers? Andie

dwight-van-man

PM'd you a suggestion...

the_other_mce

Hiya, I was just wondering what other income you had in addition to the fostering allowances? Do you have a job or do you claim benefits (as the allowance is for expenses for the child and not counted as income?). If you are claiming benefits then most companies won't give you a mortgage - you may need to approach a specialist lender. I don't know of any but there will be others on here who can advise....?

AndrewSmith

I placed a case with Northern Rock 2 years ago based on Earned income and Fostering income.

toonfish

Someone like Birmingham Midshires might look at this - they'll take income from all sources. Not a situation I've come across before.