We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
No leader expecting tax credits as kids are 14years old - cant get a mortgage
hello007007
Posts: 149 Forumite
I am looking to remortgage as our fix has ended and we are on a stand rate. However, no leader is accpeting our tax credits as the kids are 14, 13 and 10 year old.
Our mortgage is 79k and the term will be 9 years. Our mortgage advicer is not intrested in doing our mortgage as amount too less and other advisers want to change from £500.
I rang too leaders myself and both have turned me down.What should I do?
Our mortgage is 79k and the term will be 9 years. Our mortgage advicer is not intrested in doing our mortgage as amount too less and other advisers want to change from £500.
I rang too leaders myself and both have turned me down.What should I do?
The rich are getting richer and the poor are getting poorer - I was in my late 20s when I figured out what this meant.
I neither take or enter agreements which deal with interest. I dont want to profit from someone's misery.
0
Comments
-
huby earns £21k and I get dla £175 a week so without the tax credits we dont meet the affordility.
But as the tac credits are ending in a few years the leaders have asked how we will replace the money, I have told them huby I planning on starting a car trading business soon (or could just do overtime at his current job but the leaders dont like my reponse and have turn me down)The rich are getting richer and the poor are getting poorer - I was in my late 20s when I figured out what this meant.I neither take or enter agreements which deal with interest. I dont want to profit from someone's misery.0 -
What has your existing lender offered you?
Lenders cannot base a decision on something in the future. Which has no substance. They'd be hauled over the coals by the regulators.0 -
We gone onto the standard rate which is 4/.
We normally over paid each month by £300 meaning we used to pay £1000 into the mortgage a month. We could get a rate of 1.84/ with other leaders, if we didnt have the tax credit problem.
We have call Natwest (our mortgage provider) to change our rate to 2.53/ (their lowest) and to reduce the term (from 12years to 9years). The lady who arrange the appointment said they will have a good look at our bank statements, income and outgoings before they give us an answer.
I fear the issue with tax credit will be raised again and we will not get the lower rate.The rich are getting richer and the poor are getting poorer - I was in my late 20s when I figured out what this meant.I neither take or enter agreements which deal with interest. I dont want to profit from someone's misery.0 -
Thrugelmir wrote: »Lenders cannot base a decision on something in the future. Which has no substance. They'd be hauled over the coals by the regulators.
What does this mean?
Do you think if I made a fuss they will not take into accoount how we will cope after the tax credits? Our plan is to pay it all off as soon as possible by reducing the term and paying in extra each month. It was be such a small mortgage if no mortgage by the time the tax credits stop.The rich are getting richer and the poor are getting poorer - I was in my late 20s when I figured out what this meant.I neither take or enter agreements which deal with interest. I dont want to profit from someone's misery.0 -
Not all of the tax credits will be accepted, some will and some wont but every lender is different.
I dont mean this to sound rude, but if you are struggling to place it yourself surely £500 is a good investment?I am a Mortgage AdviserYou 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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards