Mortgages for disabled people

Peeka

Hi folks,

Newbie here,
I hope you don't mind my asking a quick question, could anyone recommend a reliable sub-prime lender please?

I am chomping at the bit to move to a home of my own which I can adapt, free from the worry that the government will throw me out on the streets for being genetically unfortunate. My home is unadapted and unadaptable for my needs. I can't spend another year waiting on the social housing register for an adapted property, if I am forced to I may very well go mad.

P.s I am not eligible for the Help to buy HOLD scheme/mysafehome mortgage apparently as my partner-carer lives with me :wall:

Peeka

csgohan4

how do you intend to pay the lender back? Are your PIP enough? Deposit?

Peeka

Combination of the benefits would be used. Deposit of £5800..eventually

The way I see it, my condition can only deteriorate unless some kind of gene fixing can be found. I'm in a motorised wheelchair anyway and can't work because my disability makes me so unreliable. On the off chance an employer was extremely flexible about working hours and locations, the time I could spend working would not give me a wage of more than 6k a year if I am lucky. There is no way I could live let alone buy a house so I am at the mercy of tax payers and the government. I'm thankful that that support is there....lt's terrifying to think that without our tax system, I would be out on the streets in my condition. Gives me anxiety just thinking about it.

Looking at the figures, over the course of my life, the amount of housing benefit paid would in effect be more than what a home (which I can adapt to my needs) would cost. Assuming I live to 89, and weekly housing benefit is 108 that's £280,000. If I can find a home for say £120,000 the tax payer would be saving a hell of a lot of money and I would be able to live life without smashing/dislocating joints on a weekly basis, burning myself and could even to have a shower a day without feeling physically exhausted by the whole process. The situation is far from ideal but I am trying to make the best of a bad situation.

I have been accepted for the Help to Buy HOLD scheme which helps disabled people buy a home. It is just a matter of finding a mortgage now.

My question still stands, are there any respectable sub-prime lenders out there that anyone may know of?

Alice_Walker

No one is going to lend if your income is solely based on benefit income, some (including mainstream) will lend on a combination of earned + benefit income. The reason for this is the uncertain nature of benefits.