Tax credits/Mortgage ?

[Joy69]

Hi everyone. I have separated from my husband & he is buying me out of my share of the mortgage, which will go towards a new home for myself & the kids. I will still need to get a mortgage, which
will still be cheaper than renting, as im not looking at a mansion on my salary.
Not sure if I will be able to claim tax credits

etc? Does my half of the house counfinancial settlement, even tho it's mine? Tieing myself in knots over this. I can manage the bills (just) but not much else ie school trips, petrol etc.

You can still claim tax credits if you have a house as long as you live in it and it's not savings etc I believe (I own my house and have always claimed).

Some mortgage providers like nationwide count tax credits as income with regard to mortgage offers.

The turn to us website has a great benefit calculator to tell you what you might be able to receive and claim.

Thanks for the reply. No savings. .....keep hoping for that lottery win ??

Some mortgage lenders do take tax credits into consideration but you need to be aware that tax credits are being reduced, so t may be best not to rely on them for mortgae purposes. For 2 kids the threshold will be dropping to around £26k from April 2016 , but would be higher if you pay childcare costs. Some mortgage lenders may also take child maintainence into consideration when deciding to lend.