Seiss Mortgage

Danieldillo84

Morning, can anyone please offer some advice. I have seen a lot of posts stating that I will not be accepted for a mortgage if I have received the last Seiss payment. Is this the case and will it make a difference to my mortgage application being accepted if I return the Seiss grant. 

ACG

I do not know every lenders stance on this, there may be 1 or 2 - but I do not know of any. 

The problem is that the last SEISS grant you had to declare that your business had been negatively affected by covid. If your business is struggling it is difficult for a lender to accept your income. If your income is not needed, there may be lenders who will accept a joint application without your income being taken into account. 

Danieldillo84

Ok thank you. Do you know if it will make a difference if I hand the grant back. As I am still within the period to allow me to do that. 

K_S

Danieldillo84 said:

Morning, can anyone please offer some advice. I have seen a lot of posts stating that I will not be accepted for a mortgage if I have received the last Seiss payment. Is this the case and will it make a difference to my mortgage application being accepted if I return the Seiss grant. 

@danieldillo84 It depends on the specifics. Very generally speaking, if your business is up and running strongly and it can be evidenced, you should have options irrespective of the SEISS. Only a few lenders outright decline applicants who have taken a SEISS grant.

Otoh, if your business was recently struggling then it may not matter whether your return the SEISS grant or not.