For Co-Own, Co-Own for Over 55s and Rent to Own we will consider certain types of benefits as income, these are listed below.
- Pension – both private and state pensions
- Working Tax Credit
- Child Tax Credit – For up to 2 children in the household if they are aged 14 and under at the time of application.
- Pension Credit
- Employment and Support Allowance (ESA)
- Disability Living Allowance (DLA)
- Personal Independence Payment (PIP)
- Incapacity Benefit
- Child Benefit – For up to 2 children in the household if they are aged 14 or under at the time of application.
- Universal Credit – can consider child and disability elements (if available).
- Maintenance – we may accept maintenance payments from a former partner for up to 2 children in the household aged 14 or under at the time of application. This may be a private arrangement or court approved. You must provide evidence of the amount and payment history.
- Foster Income
In addition to the above benefits, for Co-Own for Over 55s we also accept Carers Allowance.
Sorry but we do not accept Housing Benefit as other income.
Please note that if applying for Co-Own or Rent to Own and your income is heavily reliant on benefits or other unearned income, we recommend that before applying you speak with a mortgage adviser / lender as your type of income may impact on your ability to get a mortgage now or in the future.