Types of income taken into account

PeggyMay

Hello, we are considering moving and remortgaging and are looking at our financial options. My husband works full time, while I get my income from Personal Independence Payment and renting out a room to a lodger. My question is whether there are any mortgage lenders who will take into account BOTH my Pip, AND my income from the lodger. I’ve so far found one that will take into account the lodger but not the pip, and one who will do the opposite. I just wondered if there are any banks that will accept both of these forms of income, not just one of them? Thank you in advance for your help! 

kingstreet

If you are remaining in the same property and changing lenders, you are remortgaging.If you are looking to sell and purchase a new property, you are a homemover and are not remortgaging. Different lenders accept different types of income and an independent broker should be able to find you what you need.

Dandytf

PeggyMay said:

Hello, we are considering moving and remortgaging and are looking at our financial options. My husband works full time, while I get my income from Personal Independence Payment and renting out a room to a lodger. My question is whether there are any mortgage lenders who will take into account BOTH my Pip, AND my income from the lodger. I’ve so far found one that will take into account the lodger but not the pip, and one who will do the opposite. I just wondered if there are any banks that will accept both of these forms of income, not just one of them? Thank you in advance for your help! 

possibly Nationwide.
not sure of other providers.

[Deleted User]

Dandytf said:

PeggyMay said:

Hello, we are considering moving and remortgaging and are looking at our financial options. My husband works full time, while I get my income from Personal Independence Payment and renting out a room to a lodger. My question is whether there are any mortgage lenders who will take into account BOTH my Pip, AND my income from the lodger. I’ve so far found one that will take into account the lodger but not the pip, and one who will do the opposite. I just wondered if there are any banks that will accept both of these forms of income, not just one of them? Thank you in advance for your help! 

possibly Nationwide.
not sure of other providers.

Nationwide don't take lodger income but do take Pip income