Mortgage needed with large deposit & low income

Leedsfan12

csgohan4 wrote: »

Leedsfan12 wrote: »

Unfortunately the affordability calculators say different and lenders don't care about your home situation to be frank. While I emphasise with you, lenders only see what's on a piece of paper. If the numbers don't add up they won't lend

Yep I feared this would be the case but hoped a £170k deposit & unblemished history would count for something. Luckily I have family who are able to help or I could buy a smaller house outright but my daughter will be with us for many years & so I need a bigger detached house for her needs & moving again with an autistic isn't an option. Thanks for replying.

amnblog

It sounds like a decent broker will find a solution for this situation given the family support you have available.

You have done the right thing in engaging one.

charliewocka

Leedsfan12 wrote: »

I'm her appointee & it goes into my account.

As an appointee for my brother's PIP (he also has Aspergers and associated issues) I believe that we are only a form of 'trustee' for the individual. The interview and paperwork stipulates that the money we receive is on behalf of the individual to help them maintain everyday life as they may not be in a position to handle the money themselves but it is to be used solely for their benefit and may be reviewed at any time? Given this I would be surprised if it can be used as part of YOUR income - particularly if it isn't in your name.


ETA - is your daughters mental health team and support worker involved in helping her to socialise and deal with day to day life? My brother is currently attending some courses on autism and how to deal with it, as well as how to interact on a social level which are being really beneficial. There is also a group in the area for local autistic young adults to meet up once a week, with social workers, support assistants etc. to help them arrange activities. Even dating/holidays too. My brother moved into his own apartment a few months ago (I couldn't cope any more as I was his primary carer and was affecting me) and has floating support systems in place which seem to be helping him thrive.

Leedsfan12

charliewocka wrote: »

As an appointee for my brother's PIP (he also has Aspergers and associated issues) I believe that we are only a form of 'trustee' for the individual. The interview and paperwork stipulates that the money we receive is on behalf of the individual to help them maintain everyday life as they may not be in a position to handle the money themselves but it is to be used solely for their benefit and may be reviewed at any time? Given this I would be surprised if it can be used as part of YOUR income - particularly if it isn't in your name.

Hmm I'm not too sure I like what you are possibly implying but I will try not to take offence.
My daughter wants for nothing & she is my main priority at all times. I can only work part time because of her autism & this is nights too - so that I am always available for her if needed. Just because I want to include her PIP on my mortgage application does not mean that I use her allowance for myself.
She is an only child so investing in a better house will only make her future brighter as I hope I will not have to put her in sheltered housing like your brother.
Also as mentioned earlier we are having to purchase a detached house as her meltdowns are becoming more frequent & tend to be in the earlier hours of the morning - so this obviously is a more expensive purchase.
I won't be commenting again on this matter & don't wish to engage in a debate over my parenting. I wish you & your brother well.

charliewocka

Leedsfan, was far from commenting on your parenting skills and no offence was meant to be caused at all - apologies for that. I was trying to put, simply, that as PIP is awarded in your daughters name for her purposes and you are her trustee, that I would be very surprised if it can be counted as part of your income for mortgage purposes as it could be removed in the future (if your daughter ever was deemed to be able to handle the benefit herself).


Again, apologies if offence was caused, and best of luck with it all.


My brother is not in sheltered housing he is in a regular HA flat with floating support provided by the adult autism team. But obviously that suits his situation and needs.

Johnnytwostep

Leedsfan12 wrote: »

Morning, we've accepted an offer from 1st time buyers & the house we wish to purchase is not yet on the open market ( it's my sister's friends house - currently empty ). I believe my daughter's PIP money can be taken into account - I'm her appointee & it goes into my account. Her current award runs until 2019 I believe & due to her Asperger syndrome I doubt it will ever stop ( she has had DLA since 3years old - changed to PIP at age 16yrs ). We also have a Motability car as she receives the higher rate for mobility & for personal care. Thie Motability payment goes straight out of her award at source.
She is the reason we are moving - we are struggling with her & I have a large extended family in new location. Luckily we are moving from a small rural town to a city - so are hopeful he will find a job now our sale is going through. My husband has only been unemployed since Christmas - his last job required a large vehicle for delivery & our car was not going to pass MOT & as we were going to move we decided not to buy a new one & insure for another year.
ESA has only been claimed from the new year. She left education last June due to her extreme anxiety & I doubt she will return to any formal schooling. This is in her name but goes into my account. Is it possible to use this as her "rent". I don't want to sound like I'm trying to take all her money for my personal use - but as mentioned earlier we are moving to give her a better future & are having to purchase a detached house as she has several meltdowns mainly at bedtime - which is very stressful in our current semi detached house.
Sorry if I've rambled or not made myself clear 😊. There is also a very good chance my mother in law would lend us £20k so we'd only need £55k - but we'd rather not have to ask unless we have to.

doesnt sound like that at all.................no really it doesnt, no really.
If you say it enough times it becomes true, dont you know.

tomtontom

The PIP payments are not your income. I can't believe you would even suggest they should be counted as such. If you don't understand that then please speak to social services, for your daughter's sake.

Lemonsqueezer78

Wow, ease up a bit there fellas.... its not that outrageous to ask if that money can be factored in to affordability, especially if the daughter is taken care of full time at home, unable to contribute financially any other way - and her illness actually impacts the OPs ability to earn.

Come on... she's not abusing her child for gods sake.

As part of the overall household SOA, many of day to day expenses the OP incurs can obviously be apportioned partly to providing for their daughter, so it is perfectly reasonable in my view to ask the question as to whether any of those benefits could be attributed as an "offset" against some of the household expenses as part of an income/affordability assessment.

Fine, you don't think they should be. That's fair enough... but suggesting the OP should "speak to Social Services"? That's entirely unnecessary and incredibly insulting and upsetting to someone simply looking to make a better life for themselves AND their child - and who no doubt dedicates an enormous part of their life caring for them.

charliewocka

I suggested speaking to social services to ensure that they are getting all the support available to them as a family and utilising full adult autism services, not discussing parenting skills. As a primary carer for somebody with Aspergers myself I was trying to be helpful, not derogatory.

charliewocka

Have I shown disbelief? No, I've simply stated that even as an appointee for somebody in benefits it's highly unlikely income can be taken into consideration for mortgage purposes because, well, it isn't. OP has instructed a broker to investigate so hopefully some form of solution will be found for them.