Dmp and income support

lotstoponderon

Does anybody know the best places to search for mortgage companies which accept someone with a DMP which I could pay off and a deposit of 45% (from my current house) but my income is predominantly tax credits and other benefits as I have children with additional needs. I need to leave my house because of DV and also the town we live in for our safety but when a non high street lender gave me a 'decision in principal' they then halved it as two of my children are 15/17. I am a carer for my children so can only work 10 hours. Please no criticism unless youve walked in my shoes....Thank you. Its not so easy if you are in private accommodation.

ACG

What will happen to your income when your kids reach 18?

I think this is something you will struggle with to be honest. I think you would be best trying to find a very good experienced broker.

lotstoponderon

I totally understand what you're saying - I do however have three far younger children and I want to work but as I am a carer I can currently only work for 10 hours a week. My present mortgage I have been paying for 10 years without a problem and it's far more than I need however as my ex who doesn't pay the mortgage anyway will not be on my new mortgage it leaves me unable to get one which I think is unfair as it put's me in an impossible position to live where I live now and where my children's professionals are (which takes years to organise) - if I had no equity I would be fine !!

ACG

There are not many lenders who allow DMPs.
There are not many lenders who allow sole or majority of the income to come from tax credits/benefits.
Affordability is based on "what happens when interest rates hit circa 7-8%?", they are not based on historic payments (although that will help you credit scoring).

I do not mean this to come across as rude but your options are going to be limited at best. I think this is far too complex for this forum as there a lot of questions that need asking/answering but they will likely lead on to more questions. Which is why I think you need a good broker.