How do I remortgage on DLA

mac10_3

Hi There,


I have a big problem I am 58 years of age and am disabled. I currently receive the higher rate of DLA and also other state benefits such as ESA. I will never be able to return to paid work and am therefore stuck in the situation of paying an high interest rate for the remaining length of my mortgage which is 15 years. Is there anyway I could successfully apply to re-mortgage for a better deal.


Any help would be gratefully appreciated.

castle96

there are some lenders who will accept state benefits, especially when 'guaranteed'. You need a broker to source these Lenders/rates for you. Rate will be 'higher' than 'normal'

ACG

I think there is a bigger issue here... nobody is going to give you a 15 year mortgage.

There are lenders who will do mortgages with sole income being ESA, but doing it beyond the state retirement age will be nearly impossible unless you have a pension that will support it.

How much is the mortgage?
Who is your current lender?

mac10_3

My current lender is Kensington Mortgages and my current mortgage stands at £85,000.

Eager_Elephant

Do you get any help from DWP with your mortgage costs as re-mortgaging can affect this?

mac10_3

Yes I do but they only allow £135 of the £541 I pay per month.