Mortgage And Universal Credit

LostInOz

Hello folks,
I’ve recently separated and now receive UC as well as being employed part time. I ideally need to take over/remortgage my home to free up the ex hub to pursue his own mortgage. Does any one know of a lender that accepts the whole universal credit award and not just a proportion of it? (I have approached a mortgage broker but not heard back yet) 

Thank you in advance  

K_S

@lostinoz Depends on the elements that make up your UC payment. JSA and housing elements will usually be disregarded and the elements will need to be sustainable at per the specific lender's criteria. There will also be other criteria to meet such as the benefits income should not exceed x% of main income, etc.

You've done the right thing by going to a broker (hopefully they have your UC statement to hand), there's nothing to be gained by trying to DIY this. Good luck!

LostInOz

Hi,

Thank you for your speedy response. My UC is made up of the standard allowence, one child, disabled child and being a Carer. No housing allowence or anything but I only work 13 hours and also get carers allowence. 

I think I’m just panicking, the ex wants off the mortgage and I won’t be able to help him. Hopefully the mortgage broker will get back to me soon. 

Thanks