DSS Mortgage

Mati

Does anyone know of a company who will lend to DSS claimants?

Ted_Hutchinson

Shelter: Help to pay mortgage interest

I presume you are either in a vulnerable group or aware of the waiting period for new mortgages.

Most of the major building societies will regard disability benefits as income for mortgage purposes. In another forum I post at I can remember Northern Rock, Halifax being mentioned as being helpful. You may find that a self certification mortgage may be beneficial in this respect, however as the rate paid by the DWP is an average of the current rate and generally lags behind I feel you may be getting yourself into problems which would be avoided if you stuck to housing benefit. If you are a disabled person and looking to increase your mortgage to fund disability adaptions then you first need to explore Disabled facilities grants

Mati

Thanks Ted

I was thinking of buying my partner out and remortgaging. I need the DSS to pay the interest on that. I am on disability.

fatbelly

If you take out a mortgage, or remortgage, while you are on income support, you disqualify yourself for help with housing costs.

Income support is the only benefit that includes mortgage costs, and even then there are lots of strings attached, so be careful.

Ted_Hutchinson

Mati wrote:

Thanks Ted

I was thinking of buying my partner out and remortgaging. I need the DSS to pay the interest on that. I am on disability.

I'm sorry I overlooked your reply, this isn't one of the forums I regularly read. I don't think you'd be allowed to take on a new mortgage in your circumstances. If you were currently getting Housing Benefit that would be a different matter as providing the mortgage interest was less than your current HB, the DWP wouldn't be worse off. Similarly if in your current circumstance you now needed to raise money to pay for more suitable accommodation raising the mortgage might be considered but to take on extra mortgage commitments in your circumstance wouldn't be approved, I've heard recently of a person where the DWP stopped paying the interest because an extra mortgage was taken out to compensate for the Endowment shortfall, which seems very harsh as this is the advice of most Independent Financial Advisers.