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Getting a new mortgage while on Income Support

5 replies

crazychilledmummy · 19/06/2006 13:55

Hi, I am trying to move to somewhere with a decent garden for DS. Had an offer today on my house, rang my mortgage company to see about getting the mortgage changed for the new house and they have said that because I have no income (I'm on income support and don't work at the mo as DS is 9months) they won't cover a new mortgage even though my mortgage interest is paid by the Benefits, I only want the same loan amount and have equity in my house. Has anyone been in a similar situation or have any ideas? I've even tried new co's off the internet and they won't give me a loan either.

OP posts:
Orinoco · 19/06/2006 19:56

I don't know of any lenders that would, sorry.

crazychilledmummy · 19/06/2006 20:27

thanks for posting anyway. i'm eternal optimistic - will find someone somehow !!!

OP posts:
heavenis · 19/06/2006 20:33

There won't be any high street lender that would touch you on income support.
I don't know where you would stand regarding a no status mortgage,you usually need a large deposit for these. It might be worth looking into.

crazychilledmummy · 19/06/2006 20:45

god, its mad. if i had a job i could get sacked and not be able to meet my mortgage payments - surely its more secure because the Govt is funding my interest payments (to my shame).

OP posts:
LIZS · 19/06/2006 20:47

Doubt they'll automatically fund any new mortgage in the same way though.

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