Mortgage Lenders & Tax Credits

kimbroolay

Hi everyone,

I have been turned down by a few lenders due to the cost of my childcare despite receiving tax credits for a large chunk of that cost. Does anyone know of any mortgage lenders that definitely accept tax credits as an income?

Childcare is the only barrier

Many Thanks
Kim

ACG

Most will to some extent but it may not be the full 100%. You should really check these things before applying. Call them up. Too many credit checks can affect future applications, you do not want to find you are failing credit checks due to too many applications as that will make the job even harder.

scotgal30

Have you been applying through a broker? They are the best people to advise you.

I received a mortgage offer using my child's maintenance from an ex partner and child benefit (the one everyone gets) for my 2 boys as part of my income.

kimbroolay

I have gone through a few brokers who have done a search. unfortunately they were unable to help. Both have said that the childcare cost is the only thing stopping me.

(I should have said in my original post that I haven't actually applied)

Bw
Kim

Monkeylee

scotgal30 who was your lender? Would you mind sharing ? I'm struggling to find a lender who take into account my child maintenance.

BW
Monkeyleelee

Let_Us_See

Child Benefit or child maintenance? There is a big difference when it comes to underwriting.


If maintenance, was it court ordered or private agreement, and what is the agreed term (years) of the payment compared to the term of the mortgage? Can you provide a record of receipt of regular payments?