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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Original poster

Can I get a mortgage using child maintenance?

31 replies

jeneregretrien · 29/01/2014 16:14

Has anybody had success getting a mortgage when only income is child maintenance? I want to borrow about 50% of value of the house I hope to buy. I have a court order plus 4 years of bank statements showing he pays every month. Any lenders look favourably on this? Thanks so much.

OP posts:
clio51 · 29/01/2014 16:30

Not sure, but you could always ring and ask one, they don't all have the same rules so one might say no the other yes.

Is the house in your name only now?

There is always self certified mortgages, but they tend to be higher % my friend did this for couple years till she could show other company's she could pay

Vinomcstephens · 30/01/2014 20:39

Some lenders will accept it, some won't. I'm a mortgage adviser at a bank and i would need 3 months bank statements showing the maintenance being credited to your bank account and would use 60% of the total annual amount in my income calculations. All lenders are different so worth shopping about but in essence, yes, you can use the maintenance for a mortgage Smile

Vinomcstephens · 30/01/2014 20:40

...self certification mortgages are virtually non existent now, and will be gone for good after April so your chances of getting one are almost zero I'm afraid.

applelantern · 30/01/2014 22:06

I got a mortgage which included maintenance payments. Some high st banks were shockingly patronising and rude to me, but one mortgage advisor in another high st bank listened to me, looked at my situation and recommendedme for a mortgage. Shop around and you should find something.

MuttonCadet · 30/01/2014 22:09

Get yourself a mortgage advisor and let them sort it out.

gigglestar · 31/01/2014 21:25

Errr....isn't child maintenance meant to pay for the childs expenses re clothing/food etc?!

Wallison · 31/01/2014 21:26

Yes. And I should consider that putting a roof over the child's head counts as a pretty substantial part of the expense of raising them.

gigglestar · 31/01/2014 21:48

Putting a roof above a childs head is the PARENTS responsibility-it isn't a childs responsibility to pay for that.

Wallison · 31/01/2014 21:51

Not quite sure what your point is. It isn't a child's responsibility to pay for their own food/clothes either, which is why resident parents have maintenance; it is for the child's upkeep. If not to house and keep a child, what on earth do you think that maintenance is for?

financialwizard · 31/01/2014 21:52

I am a mortgage broker for a panel of lenders and would struggle to place a mortgage for you if your only income was cm.

Wallison · 31/01/2014 21:54

Btw, I can see that you don't like them (perhaps they're a little complex for you), but where should the apostrophe go in the word 'PARENTS'? Only that would give us an idea as to whether you think both parents have a responsibility to house the child, or conversely whether you think that only the resident parent has that responsibility. In which case I wonder what you think they should spend the maintenance money on.

Fairylea · 31/01/2014 21:56

Nationwide accepted it for us. I had to provide 6 months of bank statements showing my ex had paid his monthly amount direct into our bank account. We don't have a csa agreement,it's a private one and that was fine.

Ladyfarquhar · 31/01/2014 22:00

Wallison Hmm

Wallison · 31/01/2014 22:05

Am I saying something controversial here?

gigglestar · 31/01/2014 22:13

Oh pur.....leeeeeeease! Snob patrol alert! Grin

What does it matter where i put my apostrophes?!!! Seriously?!!!

I'm just saying cm is for the CHILD-not extra spending money to indulge the parents wishes. Next OP will be complaining that they can't afford to feed/clothe their child-and blame it all on the nrp.

Wallison · 31/01/2014 22:48

It matters because it changes the meaning of what you are saying. From what you have written I genuinely do not know if you think it the parent's responsibility - that is, that the resident parent should pay to house the child at his/her sole expense. Or is it the parents' responsibility - that is, that the non-resident parent should contribute something towards the cost of housing the child.

heliumheart · 01/02/2014 06:57

Indulge the parent's whims? What, trying to find somewhere to live is a whim? You are being ridiculous gigglestar. ALL income has to be declared for a mortgage application, the only reason CM might not be accepted is because it might not be considered a reliable source of income.

RestingActress · 01/02/2014 07:02

Wallison Grin

OP my friend got a mortgage based on CM, but that was over a year ago and I know that acceptance criteria seems to be tightening up all the time

sharonosaurus · 01/02/2014 07:11

Santander will,

I am looking to indulge my wishes buy a home for my DD & I.

MuttonCadet · 01/02/2014 09:50

I'm a stepmum, and I even I think that CM should be used for the mortgage and household bills.

mellojello · 01/02/2014 19:35

Nationwide do as well,

Noregrets78 · 01/02/2014 22:46

Did I miss something? Is having a roof over your heads (including the child) 'indulging parents wishes'?

Ditto to what's been said above - depends on the lender, due to the reliability of the income rather than a moral judgement Confused

mellojello · 02/02/2014 09:03

Apparently it seems a LP should not want a secure future in living with their DC in an owned property, but to carry on renting Hmm

Joy5 · 02/02/2014 16:20

If it helps the Nationwide told me they would accept CM as part of the income for a new mortgage.

Didn't offer me a mortgage as i didn't earn enough even inluding my CM unfortunately.

JuliaGulia · 02/02/2014 21:49

I got a mortgage with Halifax a few months ago, no evidence of CM required (as divorce was happening at the same time). Details were just put on the application form as part of total income.