Benefit and Maintenance Income

If you receive benefits or maintenance payments that are being used towards affordability the lender will need to see you last 3 months bank statements showing the child benefit or work tax credits being credited to your account.

When receiving maintenance, make sure the bank account that the maintenace is received into is not a joint account with the person that is sending the maintenance as the lender then may not accept this income within their affordability calculations.

By Kayleigh Harris|2021-03-24T16:06:46+01:00November 21st, 2019|Comments Off

About the Author: Kayleigh Harris

Experience a Mortgage Broker like never before. You won’t believe a service this good actually exists.

Mortgages

Resources

Call Us 01233 512170

Smarter Mortgages is a trading name of Direct Mortgage Centre Ltd who are authorised and regulated by the Financial Conduct Authority. You can find us on the register by searching our number 302007. Smarter Mortgages charge a fee for our service which is typically £495 but is dependent on the complexity of the case. Your Broker will confirm the fee prior to commencing any work for you.

Your mortgage will be secured against your home which may be at risk if you do not keep up repayments on the mortgage or any other loan secured against it. Ensure you can afford the mortgage before committing to it.