Our client had recently split from her partner and had approached her bank for a mortgage. Unfortunately, she was declined as she was heavily dependent on the benefit income she received. She was desperate to buy her partner out and stay in her property so her children could remain in the family home. The client approached The Mortgage Library to see if there was anything else, she could do…
With our access to a comprehensive range of mortgages, we were able to shop around and find a lender who was happy to accept child benefit payments, child tax credits and non-court agreed child maintenance payments on top of her basic salary. The client was really pleased and gave us the consent to proceed with the Mortgage Application. The lender did query how she would keep up the mortgage payments when the benefits stopped, and we confirmed the client only worked part time currently and would increase these hours to full time once the children were older. The lender was happy with this explanation and felt comfortable she could continue to service the mortgage. A few days later, the mortgage offer was issued.
