Hi, my name is Caz2! Finding a mortgage while receiving benefits - Page 2 — Scope | Disability forum
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Hi, my name is Caz2! Finding a mortgage while receiving benefits

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Comments

  • Ross_Alumni
    Ross_Alumni Scope alumni Posts: 7,652 Disability Gamechanger
    Thanks for responding @caz2, I'm glad that they receive some kind of support at least, it's important that they speak with their GP if they ever feel as though they need further help, though I appreciate it's hard to encourage people to do that if they don't want to.

    What about you? Are you receiving any support at the minute? You seem to be under a bit of pressure at the moment.
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  • Caz2
    Caz2 Community member Posts: 17 Listener
    We tried for my youngest and he was told his problem was that we didn't love him enough I mean that put him right off.No no one has offered to help me ,I just plod on and yes I'm under a lot of stress at the moment but I just carry on
  • vikingqueen
    vikingqueen Scope Member Posts: 1,397 Disability Gamechanger
             Not to put a downer on things but if you did find a mortgage don't forget to factor in all the extra costs. Solicitors fees, land search fees, survey fees, house deposit, they all add up to a hefty amount. There's always something you forget as well, I remember a £1600 fee from the estate agent I didn't know about till it happened, this was 30 years ago, luckily I had parents to help me out. 
           Whatever you thing it's going to cost add an extra 20 percent on just in case. I do hope you can find what you are looking for.
  • Caz2
    Caz2 Community member Posts: 17 Listener
  • vikingqueen
    vikingqueen Scope Member Posts: 1,397 Disability Gamechanger
         Has your landlord not considered selling with you as sitting tenants? You have lived there a long time so must be good tenants with the rent paid on time, worth asking the landlord maybe?
  • Caz2
    Caz2 Community member Posts: 17 Listener
    Don't think he has all he's bothered about now is getting  money from this house .He used to be a great landlord but the last few yrs he's changed to someone who doesn't care about ppl only  money
  • Lisatho11987777
    Lisatho11987777 Scope Member Posts: 5,911 Disability Gamechanger
    From my own experience of trying to buy a house on benefits in a similar situation to uou my landlord offered me first refusal  

    I had to have a medical becsuse I was 55 I couldn't have a 25 year mortgage I was offered a shorter mortgage which meant a higher deposit and higher mortgage repayments but benefits only allowed me whst I would get if I was renting which was a 400.00 short fall so I couldn't do it 

    I was glad in a way  as I live in a lovely rented house  

    The risk is if anything did happen and you fell back on payments you could lose your house and be left in alot of debt  

    There are plus sides to haveing your own house bit it's not just the mortgage you have to pay you need to have a surveyor  check the house to see if it's got any hidden problems which costs money also legal fees  and the deposit you have to pay and any repairs  thst may need doing and paying your own yearly gas checks 

    Everything would be down to you to pay  and you could find yourself in debt or struggling 

    You need to look at both sides of buying a house the good and bad 

    @Caz2 just wanted you to see the good and the bad 


  • Caz2
    Caz2 Community member Posts: 17 Listener
    Thank you  for that it is something I have thought about a lot so it's not something I'm not going in with my eyes shut about .I really do appreciate  all the advice everyone has taken time to give me
  • janer1967
    janer1967 Community member Posts: 21,964 Disability Gamechanger
    Just to add owning yoyd own home can cause issues if your circumstances change 

    Eg I had to stop working due to unexpected disability and couldn't pay the mortgage and the house was no longer suitable I was housebound due to steps 

    I had to sell my house took over a year to sell and had to sell in negative equity 

    If I had a rented property at the time it wouldn't have been such an issue 
  • Lisatho11987777
    Lisatho11987777 Scope Member Posts: 5,911 Disability Gamechanger
    I am not sure someone else will know better but I think you lose your housing element as it doesn't cover a mortgage  not realy sure about that though  also if you pay a deposit and its more than 6000 you may lose benefits thsts whst I was told 

    In the end when I worked everything out all I  would of had would of been a house I couldn't afford to run it happens to people who earn more money than people on benefits 

    Whst ever decisions you make could affect your future 
  • janer1967
    janer1967 Community member Posts: 21,964 Disability Gamechanger
    You don't get housing element when you have mortgage 

    You can get help for interest only part of mortgage after 9 months being on uc but this is a loan and has to be repaid 
  • Lisatho11987777
    Lisatho11987777 Scope Member Posts: 5,911 Disability Gamechanger
    @janer1967 I thought that was the case but wasn't sure  as I didn't go ahead with trying to buy the house mine was part rent part buy for first 5 years then full mortgage  but deposit was high and mortgage payments high then the renting side of things I was only allowed  so much and I had to pay the rest with the best will in the world 700 was to high for me to pay and then it was higher after the five years 
  • calcotti
    calcotti Community member Posts: 10,010 Disability Gamechanger
    janer1967 said:
    You can get help for interest only part of mortgage after 9 months being on uc but this is a loan and has to be repaid 
    And that help is only available if there are no earnings.
    Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.

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