Getting Mortgage while on disability benefits?

zak2012
zak2012 Posts: 326 Forumite
in Mortgages & endowments
Hi, my neighbour asked me if she can get Mortgage while she is on diability benefit but i told her dont know i will look online etc..so i wanted ask you guys if you can help her?she on ESA and PIP single in one bed flat,she want get her flat under Right to buy scheme and they told her after discount the flat only cost £25k ,so she needs around £20000 ,whats best optionfor her?and is there any bank who accept benefit as main income. thanks

Comments

  • ACG
    ACG Posts: 24,447 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Potentially, but it will probably depend on whether the ESA/PIP is guaranteed or not.
    I am a Mortgage Adviser
    You 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.
  • Edi81
    Edi81 Posts: 1,498 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    If she has a flat she will be responsible for her share of the shared maintenance as it will be leasehold.

    Whilst you!!!8217;re online have a look at this - there are some horror stories out there.
  • Owain_Moneysaver
    Owain_Moneysaver Posts: 11,389 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It can be possible. The Housing Options Scotland is intended for Scottish buyers and tenants, but their leaflets may be useful

    https://www.housingoptionsscotland.org.uk/wp-content/uploads/Benefits-based-borrowing-2017-PDF-1.pdf

    However Right to Buy suggests she already has a secure social housing tenancy, which is probably more secure than having a mortgage and facing eviction if for any reason the mortgage isn't paid, as well as repairs and maintenance which are included in social housing rent.
    A kind word lasts a minute, a skelped erse is sair for a day.
  • enthusiasticsaver
    enthusiasticsaver Posts: 16,020 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Very few lenders will consider benefits as income as not guaranteed.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    https://forums.moneysavingexpert.com/discussion/5789909/new-roof


    says it all really, as above your 100% responsible for repairs and their not cheap, especially on benefits
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
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