Universal credit causing mortgage confusion

Beaneywatts

Hello everyone,

I am currently looking to buy my first house and the mortgage adviser at the bank is looking into the affordability and asking how much working and child tax credits I receive - however, universal credit doesn’t list these individually anymore.

The adviser wants to know which elements of UC are the replacements for working and child tax credits, but the internet doesn’t seem to actually define this and the person at UC who I asked was no help at all.

It would make sense to me that the child element replaced child tax credits, the housing element replaced housing benefit, the carers element replaced carers allowance etc (I’m not in receipt of all of the above by the way!), but the standard element is a mystery to me as to what benefit this really replaces.

I thought maybe someone on here may have been through similar and I’d be interested to know how their mortgage adviser eventually considered the elements, whether they included them or not etc.

Any experience or knowledge will be gratefully received,

Thank you!

pmlindyloo

Beaneywatts wrote: »

Hello everyone,

I am currently looking to buy my first house and the mortgage adviser at the bank is looking into the affordability and asking how much working and child tax credits I receive - however, universal credit doesn’t list these individually anymore.

The adviser wants to know which elements of UC are the replacements for working and child tax credits, but the internet doesn’t seem to actually define this and the person at UC who I asked was no help at all.

It would make sense to me that the child element replaced child tax credits, the housing element replaced housing benefit, the carers element replaced carers allowance etc (I’m not in receipt of all of the above by the way!), but the standard element is a mystery to me as to what benefit this really replaces.

I thought maybe someone on here may have been through similar and I’d be interested to know how their mortgage adviser eventually considered the elements, whether they included them or not etc.

Any experience or knowledge will be gratefully received,

Thank you!

So what are your circumstances? What were you claiming before you moved to universal credit?

If you were only receiving tax credits then you are right the child element, the child disability element and child costs element replace child tax credits. Any extra money you receive replaces working tax credits.

Beaneywatts

Thank you for your response. Before going over to UC we were receiving some working tax credits, child tax credits and a small amount of housing benefit.

I work full time and husband is stay at home parent looking after our 1yr old.