Getting a small mortgage on benefits? — Scope | Disability forum
Please read our updated community house rules and community guidelines.

Getting a small mortgage on benefits?

ESABenefitsUK123
ESABenefitsUK123 Community member Posts: 66 Courageous
edited October 2021 in Benefits and financial support
Does anyone have any up to date experience with getting a mortgage on benefits?  I have ESA (Support), PIP (basic Daily), and will soon get the Severe disability premium.  I think the yearly amount will be about 13.1K.  I wonder if I could get say a mortgage of around 25K?  (What would happen is that I would sell my current place, and buy a place that is about 25K more than the sale price, leaving me with 25K that I need to find to pay the difference.)  Do you think any bank in the UK would allow this, given my circumstances?  Thanks a lot for any thoughts.

Comments

  • janer1967
    janer1967 Community member Posts: 21,964 Disability Gamechanger
    I'm not sure but you need to think about what would happen if you lost any of your benefits as they are not guaranteed as you read so many times of people losing their benefits 
  • KG100
    KG100 Community member Posts: 179 Pioneering
    I tried this in about 2010, they wouldn't add my benefits to a new mortgage, but said they'd add my works medical pension to it. 
    I'm sure they said it's because the benefits could be taken away at a future date.
    The same as we can't lose our benefits in a divorce case. 
  • sam12
    sam12 Posts: 1,338 Pioneering
    No one goin give u a mortgage on benefits. U need a job for a mortgage
  • KG100
    KG100 Community member Posts: 179 Pioneering
    There's even more chance of benefits being taken off us in this day and age !!
  • janer1967
    janer1967 Community member Posts: 21,964 Disability Gamechanger
    Not only can you lose benefits it's just as likely to lose a job. You then get no help from benefits towards a mortgage until you been claiming 9 months. I lost my home as I lost my job due to my disability I instantly became disabled after amputation so no warning. I managed my mortgage for few months but then went into arrears finally selling my house for no profit. 
    My point is anyone is a risk for a mortgage lender either working or on benefits.
    @ESABenefitsUK123 I would do some research online to see if you can find any info 
  • sam12
    sam12 Posts: 1,338 Pioneering
    When my bf buy me a house I won't have to worry it be paid off. 
  • poppy123456
    poppy123456 Community member Posts: 53,333 Disability Gamechanger
    Hi,

    They won't take your ESA into account but they do take PIP/DLA into account. They are some mortgage companies that will but i'm not going to say it will be easy because it won't be.
    I would appreciate it if members wouldn't tag me please. I have all notifcations turned off and wouldn't want a member thinking i'm being rude by not replying.
    If i see a question that i know the answer to i will try my best to help.

Brightness

Do you need advice on your energy costs?


Scope’s Disability Energy Support service is open to any disabled household in England or Wales in which one or more disabled people live. You can get free advice from an expert adviser on managing energy debt, switching tariffs, contacting your supplier and more. Find out more information by visiting our
Disability Energy Support webpage.