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Tax credits mortgage
Gemandcraig
Posts: 38 Forumite
Are there any banks out there that tale tax credits into account?
We are in a dilemma of one income £20k and then tax credits £700 per month. CB £200 per month so we bring in an okay amount each month. We have around £1000 left over after all the bills have gone out and no debts however we keep being advised that we cant get a decent mortgage. However If i found employment of £18k per year we would have childcare bills of around £1k per month which would mean our income was less so surely we should get a better mortgage offered without me in employment. Why is it so frustrating?!
We are in a dilemma of one income £20k and then tax credits £700 per month. CB £200 per month so we bring in an okay amount each month. We have around £1000 left over after all the bills have gone out and no debts however we keep being advised that we cant get a decent mortgage. However If i found employment of £18k per year we would have childcare bills of around £1k per month which would mean our income was less so surely we should get a better mortgage offered without me in employment. Why is it so frustrating?!
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Comments
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Are you saying you have been told tax credits cannot be considered? If so, that is not the case.
Some Lenders do consider tax credits. The most common hitch however is that the TC award is not based on the current earned income. Therefore Lenders like to see all eight pages of the most recent TC award.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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
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