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Mortgage application with Universal Credit

_AandL_
_AandL_ Posts: 88 Forumite
10 Posts First Anniversary Name Dropper
in Mortgages & endowments
Has anyone had a successful mortgage application on Universal credit. We’ve applied with Pricise and are unsure if this will be a problem. 

Comments

  • Carl2510
    Carl2510 Posts: 542 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    Depends, have you gone through a mortgage broker? Have you checked affordability with the income from Universal Credit, are you on Furlough??
  • _AandL_
    _AandL_ Posts: 88 Forumite
    10 Posts First Anniversary Name Dropper
    Yes have gone through a mortgage broker. I haven’t included the universal credit as income, I’m self employed and am still trading. Just not at the same rate as before. 
  • K_S
    K_S Posts: 6,893 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    @_AandL_ Having taken UC will not have any significant impact on your chances of a mortgage.

    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. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • _AandL_
    _AandL_ Posts: 88 Forumite
    10 Posts First Anniversary Name Dropper
    K_S said:
    @_AandL_ Having taken UC will not have any significant impact on your chances of a mortgage.
    Precise mention in their T&Cs that they won’t accept anyone whose taken housing benefit in the last 12 months. Am unsure if this is they same thing?
  • K_S
    K_S Posts: 6,893 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 10 February 2021 at 10:07PM
    _AandL_ said:
    K_S said:
    @_AandL_ Having taken UC will not have any significant impact on your chances of a mortgage.
    Precise mention in their T&Cs that they won’t accept anyone whose taken housing benefit in the last 12 months. Am unsure if this is they same thing?
    @_aandl_ I'm sure your broker would have checked before submitting the application if there was any doubt re criteria. If you want some reassurance, you could just ask them the same question.

    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. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • _AandL_
    _AandL_ Posts: 88 Forumite
    10 Posts First Anniversary Name Dropper
    K_S said:
    _AandL_ said:
    K_S said:
    @_AandL_ Having taken UC will not have any significant impact on your chances of a mortgage.
    Precise mention in their T&Cs that they won’t accept anyone whose taken housing benefit in the last 12 months. Am unsure if this is they same thing?
    @_aandl_ I'm sure your broker would have checked before submitting the application if there was any doubt re criteria. If you want some reassurance, you could just ask them the same question.
    Definitely something I will mention as I hadn’t mentioned universal credit to our mortgage advisor 
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