Hi, my name is Caz2! Finding a mortgage while receiving benefits
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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.Online Community CoordinatorConcerned about another member's safety or wellbeing? Flag your concerns with us.
Did you receive a helpful reply to your discussion? Fill out our feedback form and let us know about it. -
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
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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. -
So do I
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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?
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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
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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
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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
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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 -
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 -
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 -
@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
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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 repaidInformation I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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