Hi everyone,
My mum is 47 with 2 dependants.
She is set to receive around 95k from her current house as a divorce settlement.
The houses she is looking at are around 125k
She has a small part time income of around 4-6k pa.
She also receives benefits.
I have been looking at mortgages on compare sites etc and they never bring back any results. I am just looking for some general advice and she will of course be contacting a professional when her current house is sold.
Now my questions:
Can benefits be included as an income for a mortagage app?
Will she be able to find a mortgage with such a low income or will the very high Loan/Value ratio help?
In these cases would a personal loan be better?
Any help would be greatly appreciated.
Thanks,
My mum is 47 with 2 dependants.
She is set to receive around 95k from her current house as a divorce settlement.
The houses she is looking at are around 125k
She has a small part time income of around 4-6k pa.
She also receives benefits.
I have been looking at mortgages on compare sites etc and they never bring back any results. I am just looking for some general advice and she will of course be contacting a professional when her current house is sold.
Now my questions:
Can benefits be included as an income for a mortagage app?
Will she be able to find a mortgage with such a low income or will the very high Loan/Value ratio help?
In these cases would a personal loan be better?
Any help would be greatly appreciated.
Thanks,