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Mortgage when on benefits

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10 months 2 weeks ago #306985 by latmarshall
Mortgage when on benefits was created by latmarshall
Hi I just wondered if anyone had managed to get a mortgage whilst on benefits and 100% of their income being from benefits. I’ve been given an agreement in principle with Barclays - although they had to do some tinkering with the things on their side so I could get the email in writing. But they are fully aware all my income is from benefits (income comparable to full time work). I just don’t want to go through the hassle of it all if they still end up rejecting me when my application goes through. Thanks

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10 months 2 weeks ago #306989 by BIS
Replied by BIS on topic Mortgage when on benefits
Hi latmarshall

Hopefully, someone might be able to speak of their experience.

BIS

Nothing on this board constitutes legal advice - always consult a professional about specific problems

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13 hours 27 minutes ago #314099 by YveClark
Replied by YveClark on topic Mortgage when on benefits
Despite what we feared, even on pension credit and PIP in our mid 70s and an SMI loan we have been able to remortgage for more than £100,000. It was been torture but only because the DWP take so long with the proofs. I'd say go for it but get the DWP proofs requested a couple of months before you apply if you can.
Remember that there are fees to mortgage brokers and solicitors you need to pay save up for that about £4000 if your need a broker to cover that and the odd unexpected thing.
Not easy, but possible. If you are prepared it is far less stressful.

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