Obtaining a mortgage with working tax credits

Posted on 2 June 2009

Our fixed term has ended and we have an interest only mortgage.  I want to change to a repayment mortgage now that the interest rates are low.  I am earning £13,500 plus Working Tax Credits of approx £30 a week and my partner gets DLA approx £200 a month.  Our mortgage is £73,000.  Is there a mortgage lender that would consider giving us a mortgage?

There are a handful of mainstream lenders that take tax credits and disability living allowance into account. The lenders that spring to mind are Abbey, C&G and A&L to name a few. Without knowing your precise financial situation, things like how much debt you have, how long you have been receiving tax credits/DLA allowance, it is difficult to provide you with specific advice. I recommend that you speak to an independent mortgage adviser.

 

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