Benefits & savings, mortgage likely?

telynores

I am not working due to disability. Since being on disability I pay a £525 rent and have accrued £30,000 savings plus £10,000 I already had. It's frustrating that I don't believe I could get a mortgage but it would cost me less for a comparable property than I pay in rent and I would be able to get a more suitable property - disabled access and all that.
Oh, I'm 56 with a pension age of 68 :-(
Does anyone have a ray of hope?

Dave_Ham

Possible, but very unlikely. Many lenders are now switched off to benefits as only source of income.


Your chances increase if you can put a family member on the property with you (even if they do not live there) although do engage someone for formal advice.

kingstreet

telynores wrote: »

I am not working due to disability. Since being on disability I pay a £525 rent and have accrued £30,000 savings plus £10,000 I already had. It's frustrating that I don't believe I could get a mortgage but it would cost me less for a comparable property than I pay in rent and I would be able to get a more suitable property - disabled access and all that.
Oh, I'm 56 with a pension age of 68 :-(
Does anyone have a ray of hope?

I attended a seminar by our local HTB Agent, Orbit a couple of years ago and was impressed by what these people had to say;-

http://www.mysafehome.info/

I cannot vouch for them in any way, so no recommendation implied.

telynores

Thanks for the information which I have looked at.
As it happens, where I live there is no housing of this nature. There's a housing shortage on the whole but it's a farming/rural/National Park area.

telynores

Dave, that would, I assume, affect the other party in the event they want their own mortgage(?)