Everyone says NO!

leveller2911

sarahskint wrote: »

The only problem with that is when we reach the savings threshold we will lose what tax credits we have because we will have 'too much money saved'

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Tax credit awards are not based on savings they are based on your total income... There is no savings limit for tax credits.

Having said that personally I don't think benefits should be taken into consideration with affordability. Benefits can be cut at any time.

I don't agree with the Right to Buy scheme either but I do wish you luck.

Funny_old_game

That would make it worse as he would have to declare he's married which will effect affordablity and also declare he has 4 kids and he's not guaranteed if being able to use benefits.

You need to work or up his income for this to work I'm afraid.

Soot2006

You're definitely going to need to save more and probably wait until you are both working to be able to get this mortgage. As it is, your husband would have to apply and declare that he is supporting you (wife, therefore legally entitled to house things) + 4 children. The risk to the bank is pretty enormous. Your RTB is unlikely to go away though, so you're in a better position than most people. You get to stay where you are, you won't have to pay repairs for another 2-3 years until to buy, etc!

Idiophreak

sarahskint wrote: »

any advice/help would be very thankfully received x I feel like crying tbh, one bad point in my life and I'm still made to suffer for it

I'm not entirely sure you're looking at this the right way.

If you were working, you'd stand a much better chance of getting a mortgage, or you'd certainly be able to save much faster.

If you had less than four children, you'd stand a much better chance of getting a mortgage, or you'd certainly be able to save much faster.

You've made a whole bunch of choices over previous years that have impacted your ability to get a loan, it's not all about the "one bad point" at all.

And, really, you've nothing to be sad about. There are plenty of people on these boards who have both people working and are still struggling to buy a house...and *many* more who would love their wife to be able to stay at home with the kids, but simply couldn't afford it. Your situation isn't so shabby when you think of it like that.