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Affordabilty when tax credits cease?
Dlg77
Posts: 13 Forumite
Hi all,
My husband and I have applied for a mortgage via broker with santander. Ive just checked my online tracking via the mats system, and the application progress states, information requested form broker/ written confirmation required from broker, how will mortgage payments be made when tax credits cease.
I cant get in touch with broker as he is away this weekend.
I work mon-fri full time, and my husband works part time, on the weekends. We save on child care by taking care of the kids ourselves.
My husband could work full time as well, but that would mean paying for childcare. We have planned once the kids are older and in secondary school, he will also work full time, which means affordabilty will be fine once they get to 16/ or whenever the tax credits cease.
Is it normal for lenders to ask this question, and also how is the question satisfied to the lender. Iam sure my broker will know how to handle this, i have full faith in him. But the fact i cant get hold of him and discuss this, is worrying me, so i thought i would ask on here.
Many thanks in advance
My husband and I have applied for a mortgage via broker with santander. Ive just checked my online tracking via the mats system, and the application progress states, information requested form broker/ written confirmation required from broker, how will mortgage payments be made when tax credits cease.
I cant get in touch with broker as he is away this weekend.
I work mon-fri full time, and my husband works part time, on the weekends. We save on child care by taking care of the kids ourselves.
My husband could work full time as well, but that would mean paying for childcare. We have planned once the kids are older and in secondary school, he will also work full time, which means affordabilty will be fine once they get to 16/ or whenever the tax credits cease.
Is it normal for lenders to ask this question, and also how is the question satisfied to the lender. Iam sure my broker will know how to handle this, i have full faith in him. But the fact i cant get hold of him and discuss this, is worrying me, so i thought i would ask on here.
Many thanks in advance
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Comments
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seems like a fair question, and it is the weekend, so I wouldnt worry.0
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Any brokers out there that may beable to shed any light?0
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Standard Santander question for anyone who gets benefit income. Nothing to worry aboutI am a Mortgage Adviser
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.0 -
Thnx for putting my mind at ease0
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As <- haras <- says standard question for Santander for all cases including benefits/credits in any way and simply requires a standard format response from the broker uploaded to MATS.
Neatly removes the responsibility to the brokerHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Senior_Paper_Monitor wrote: »
Neatly removes the responsibility to the broker
Isn't the question directed at the applicant ?0 -
The statement requested from the broker starts "I have discussed" and continues "I have concluded that" (from memory) ...Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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