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Mortgage lenders that accept working tax credits as income?
Tamii
Posts: 19 Forumite
I only know Barclays. I've been to the branch recently to inquire about mortgages and they confirmed they do.
I've also talked to HSBC, they don't look at working tax credts as additional income.
Do you know any other lenders that do?
I've also talked to HSBC, they don't look at working tax credts as additional income.
Do you know any other lenders that do?
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Comments
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Can you clarify what "working tax" is?0
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Presumably working tax credit.I am not a cat (But my friend is)0
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Every lender will have their own policy on working tax credit, from taking 100 to none at all, any somewhere inbetween.
They will also have limits on how much of your total income can be made up from benefits like this.
You would be so much better just asking a broker to sort it out than going into each bank in the high Street and askingI 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 -
Particularly if your question is 'do you accept tax as income'!I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
given your other thread your new job will put you over the limit for WTC so it will likely stop in January so probably worth waiting till you are in your new job than trying to get benefits that will be stopping included0
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Alter ego,
yes, working tax credits, thank you0 -
betmunch,
I've been thinking of getting a broker but also making my own inquiries. while I clarify my situation (see other thread Buying from council now or later).
I've been recommended one who charges £400.0 -
Caz3121,
I see you've read my other thread. Time is the matter there and which choice to make.0 -
A lender will always want to know about any changes in income. That means if the WTC will stop it MUST be declared, making it pointless to apply on the basis you have that income anyway as it will not be used in the affordability calculations.0
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Could someone please help me with my council flat question in the other thread?
https://forums.moneysavingexpert.com/discussion/53773860
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