Can I include child tax credits in mortgage application

four90mm

Hello,

We are about to submit a mortgage application and are considering doing it in my name, not including my wife's details. However the question we have is - can i put any child tax credit and child benefit income on the sole application?

We appreciate any help you can offer.

Thrugelmir

Why isn't your wife going to be included on the application?

ACG

It depends on the lender, who it is paid to and how old the kid(s) are.

Also, not all lenders will allow a single application for married couples, so you need to check that also.

In short, there is no definitive answer so double check. What happens if you pass away on a sole application? The lender will want their money back. Its not a good diea to do a single application if you do not need to.

Tigsteroonie

I seem to remember being advised that I couldn't include our family CTC because they weren't being paid directly to me, and the mortgage was in only my name (unmarried couple). But I may be mis-remembering.

beccybone

Only if it is in your name and not all lenders will except it anyway.
I was told that if you are married you have to have a joint mortgage. And anyway your wife will be linked to you on your credit file and if she is not on the mortgage she becomes another financial dependent.

JustinWayne

The child you want to include must be under the age of 13 as they want to see that the income stream is likely to continue for the first 5 years of the mortgage.

Caz3121

Justin - it may be useful to the OP if you refer to which lender you are referring to that will include CTC in someone else's name as long as the child is under 13
Many lenders don't include CTC even in own name with a child of any age

selloptape

My mortgage provider said they accepted them initially (Spanish bank) but in the end didn't as Tax Cred would only provide letters stating 'provisional award' instead of 'final award'

Hth

Verix

ACG is right, there is no definitive answer. The people who are giving specific answers are probably referring to specific individual lenders and there are a variety of different approaches depending on the lender.

Anzhelka

Depends on the lender...our Mortgage advisor has asked for the child tax credit details at the very beggining, however when we have chosen lender - he doesn't accept any tax credits.