Any hope of getting a mortgage on Universal Credit?

[HouseNoMore]

After scrimping and saving for years, living with family and working myself into the ground working full time and being a single mum to 3 very young kids, just as I'm finally putting an offer on my first house I get hit by the UC migration letter

My lender has said that they don't accept UC, and I'm struggling to find another who will lend anywhere close to the same amount my last AIP was

Is there any hope? The irony that if I can't get a house I'll end up renting which will come out of UC's pocket anyway

My point is you don’t no her earnings or entitlement so just informing her she won’t get £550 towards rent as if it’s fact is incorrect.

Tell that to the LLs who have their BTL mortgages paid by tenants' UC or HB.

Op says she is working full time so of course there will be deductions as anything over £379 a month would cause deductions. You would hope if working full time that she would be earning more than £379 a month, so there will be deductions which will affect the whole UC award including rent !

I didn’t say there wouldn’t be deductions. I said you didn’t no what deductions would be as you don’t no her entitlements or earnings so putting a figure on it and informing her she won’t get £550 when you have no idea how much she’l get before or after deductions is incorrect. Not sure why you are struggling to understand.

Op insinuates in her post upthread that her rent is £550 and that Uc would need to pay that if she doesn't get her mortgage. Therefore if her rent is £550 she isn't going to get that paid after deductions is she? Not sure what you are struggling to understand ? Do you understand how UC works?

That depends on the lender. Some do include them. Nationwide do.

Why are you so certain that her UC will be less than £550 though? I take home a little shy of £2400 and my UC is over £800pm.

It goes on bills such as rent or savings for a deposit thanks - not all of us have family to fund a deposit or inheritance. Instead I was taught to buy a house, get a better paying job. It therefore seems an alien concept that to buy a house, all some need to do is work in a lower income role, have some babies, then the government will contribute to your deposit. What’s the point of being on a higher income if the government sustains a higher quality of life for those on a low income?

Your understanding of how adult life works and the benefit system is clearly lacking. Try doing some research into it before throwing out your ignorant views and making yourself look stupid. Single parents can be ok 40k and get universal credit help for childcare if their costs are high enough, it’s not low income. Not everyone asks for their partner to leave or die once they’ve had babies. Some people end up disabled and unexpectedly needing benefits, all of these things could happen to you in the future. Guessing you aren’t planning on having any babies, or claiming any benefits if something goes wrong in your life then.

@halloweenn they don't! I have a mortgage and no DC, on min wage so don't get top ups

No it doesn't you have 12 months protection on savings above £16k

It really isn’t me whose comprehension is lacking here. And yes, I am a single parent working full time (in a role that isn’t very low paid, it’s average for round here), eligible for universal credit. So it’s fair to say I no more than you do here.

Yes she will she is migrating.

Well someone will be paying off a mortgage funded by benefits either way.

Messed up my quotes there. Anyway op as others have said try Nationwide.

Ha. This, absolutely.

“ all you need to do is work in a lower income role and have some babies”

Nice. The fifties called, they want their woman-bashing back.

You get that babies are people? Who grow and need space and clothes and heat and food? Some elements of benefits are to provide those.

You don’t have any dependants, your situation is very different.

Erm, yes it is: enormous amounts of benefits go to paying private landlords.

Any chance the family member you live with could be a guarantor or go on mortgage? You’ll have to do something asap as UC will stop with savings over 16k. Good luck.

As has been said, shel get a year on UC before it stops due to the savings.

Definitely speak to a broker.

@TeaKitten 12 months gives her some breathing space but 100k for a three bed isn’t going to be easy. OP what about shared ownership schemes? More security but will still have a rent element?

There are lots of places in the UK where people can buy a house for about 100k or 120k, OP may have saved up 30k for example and only needs a mortgage of 70k for all we know, she didnt (unhelpfully) give any figures

So you certainly can look to buy a house on that sort of money, particuarly at your age. Your mortgage would be tiny

@halloweenn

It's area dependent ... my dd is younger and earns less than you but is at the point of buying, second viewing tonight, the house is £135k and she has saved up the deposit herself including her starting bonus from work. Some parts of the country are cheaper

Sounds like a you problem rather than a welfare system problem. Stop projecting.