Tax Credits - Wrong income on letter (mortgage related)

Lillys_mum

We have been able to use our tax credits to add to our income for our mortgage.
We didn't have all the papers when we gave them to our broker - only the bit with the amounts so he just took that and sent it off to the underwriters.

He phoned me yesterday to say they need all the pieces of paper ( all 8 pages!!!) so I franticly looked around for them.

After alot of searching I have finally found them but have noticed that there is a fair difference between the incomes on them and what our actual income is.

My husbands is only £1000 more than on the tax credit form but mine is £5000 more. (so this will mean that our payments will be less than the figure we gave them on the paperwork)

We have used the correct incomes on the mortgage but are now really worried because they are different and they might not lend to us anymore.

We have a mortgage promise for a value of £126,165 but we only need £92,750 - do you think it will still be ok as we are not borrowing the maximum they will give us.

Sorry, this whole purchase has been so stressful and this is just one more thing that I just can't be optimistic about.

Thanks

merlinthehappypig

I suspect that they are looking at the tax credits forms to establish how much tax credit you get, not to check your salaries. In any event some income doesn't get counted when you apply for tax credits, such as child benefit, for example, so that would be missing from the income figures on the form. Tax credits are also based on the previous tax years income so any recent salary increases or additional overtime would also be missing. As long as you have paperwork to back up the salary figures that you are using for the mortgage I can't see that you have anything to worry about.