We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Yorkshire BS, can borrow a lot less than others?
pamelab21
Posts: 341 Forumite
I have run through various online calculators and YBS have what could be a good offer running for us at the moment, 5 year fixed, 2.24%. Looking to sell our house at 165k and buy at no more than 225k. Looking for approx. 110k mortgage.
I have checked their online calculator and it seems that although they will take into account child benefit they do not take tax credits into account (we pay for childcare nursery fees but get help with that) Based on that they will only lend us 57K??
When I called Britannia (who we are with at the moment) they ran through a decision in principle and they wanted to know tax credits but not child benefit and on that basis they could lend us up to 136k.
A massive difference!
Are there a lot of lenders who do not take help with childcare into account? I know its not guaranteed but at the same time we will not be paying it forever, it will actually drop soon.
I have checked their online calculator and it seems that although they will take into account child benefit they do not take tax credits into account (we pay for childcare nursery fees but get help with that) Based on that they will only lend us 57K??
When I called Britannia (who we are with at the moment) they ran through a decision in principle and they wanted to know tax credits but not child benefit and on that basis they could lend us up to 136k.
A massive difference!
Are there a lot of lenders who do not take help with childcare into account? I know its not guaranteed but at the same time we will not be paying it forever, it will actually drop soon.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards