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,

AnotherJoe

AIUI UC merely puts the multiple benefits together. So whatever child benefits are applicable are still being being paid.

I'm surprised it's not possible to get a breakdown of how the UC is calculated and a quick google finds sites that seem to point at what the elements are.

So why not have a look at some of those to determine what the child elements are and then report those back to the broker

Try "entitledto " for example..

Sambella

These might help

https://www.entitledto.co.uk/help/Universal-Credit-Rates

https://www.gov.uk/universal-credit/what-youll-get

I think it’s standard allowance + any higher or lower work allowances that make up what would have been WTC and any other element as applicable like limited capacity for work

I could be wrong ...

Beaneywatts

Thank you both for your replies. I do have a statement that shows how the UC payment is calculated and the adviser has this - it defines the elements that we receive but unfortunately it doesn!!!8217;t indicate how each element itself is made up, so I have nothing solid to say !!!8216;that element there is the working tax credits!!!8217; if you know what I mean?

However I think the adviser accepts that the child element is the equivalent of child tax credits, it!!!8217;s just the standard element that is a bit of an unknown.
I agree though, to me it would make sense that the standard element is the working tax credit part.

I!!!8217;ve been through lots of websites to try and find a clear definition of what benefit the standard element replaces, but as yet - no joy!

Thanks again