Income

Benefits

For both Co-Own 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 – If there is more than one applicant, we’ll need to know whether the award is made jointly or to one person.
  • Child Tax Credit – For up to 2 children in the household if they are aged 14 and under at the time of application. If there is more than one applicant, we will need to know whether the award is made jointly or to one person.
  • 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
  • Housing Benefit – sorry but we do not accept Housing Benefit as other income.

Please note that if applying to 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 Financial adviser / lender as your type of income may impact on your ability to get a mortgage now or in the future.