Does anyone
know which mortgage companies accept tax credits as income?
I am
a single mum whose husband has
left her. he now wants hisname off the mortgage so he can buy his own house. i work part-time, but my income is not
to take on the mortgage, and my bank, nationwide, does not accept working family tax credits as income. do you know of any mortgage company that does?
Answer
The trouble with tax credits is that they vary with your regular ( or irregular ! ) income and have a habit of stopping without warning. your problem is not so much that mortgage companies will not accept tax credits as part of your income ( which of course they are
) but can you actually service a loan to buy your husband out. to be honest, and on the basic information that you provide, it seems likely that you are a long way from being able to support the kind of mortgage that you want. even if you were, paying it would be a complete misery. tax credits are there for a reason, to support people on low incomes and with children to support ...... it is therefore
certain that you do not earn
to support a mortgage of the level that you seek. i assume that you have taken legal advice on what support your husband must provide and that a move is necessary?
otherwise, i think you have to accept the inevitable ... the house will have to be sold and you will have to seek rented accommodation. but remember nothing is set in stone ,,,, the future may be better than you think!