Mortgage on benefit

Ok so i can use my "right to buy" option and can get my house for £40k (50%) discount entitled.  Im self employed and earn £132 per week as well as the £69 carers.  My daughter has just been awarded DLA which is £4429 per year and get that for the next 8year til she turns 16.

If i put down 15k deposit would the bank give me a mortgage ? With right to buy I dont need a deposit but wat to put it in the buy quickly and secure the house for my daughter.  

Comments

  • powerspowers
    powerspowers Posts: 1,100
    First Anniversary First Post Name Dropper
    Forumite
    Try the mortgage board- there’s some mortgage advisors in there who might not see your post on here. 

    I don’t know enough to advise but the minimum I could borrow for my mortgage was £30k, it wouldn’t stop you overpaying the extra £5k to get the balance down 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £500/ £3,600


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