UK SZ community mortgage and disability benefits

DX'd - Other
1

Has anyone managed to get a lender to give them a mortgage whilst on disability benefits in the uk/england?

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2

I had a mortgage for a fair few years whilst I was working

Without one I believe you get housing benefit to pay your rent

However if things go to ■■■■ then you have to wait 9 months for support

This means they will pay the interest but they will part own your home

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3

I see. So housing benefit is only if you are a renter ?

This clears up a lot of my curiosity. Thanks man

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4

Yep basically if you rent you’re covered is my understanding

But with a mortgage 9 months is a very long time to go without support

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5

That’s also a good point, 9 months is a long time

But I’d take a dent in income if I did this without the housing benefit - ima have to wait till I get back into work :sob:

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6

My mum knows people who bought their houses on benefits.

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7

Yeah, it seems possibly but increasingly difficult :disappointed:

8

Don’t let it put you off @MisterApple

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9

I had an interest only mortgage for a bit, donkeys years ago, when i was buying the flat. I only just about got it tho - and the sister had to confirm that i had funds available, invested.

It was a time limited offer at the time, with the council with 30% off under the right to buy scheme.

Surprised i got it actually. I paid the balance off in full, when mums will was ratified.

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10

I’m also hoping the councils right to buy will allow me to have 50% off the actual cost and then savings will pay the deposit. In theory it’s Cheaper than paying rent if I worked it all correctly :sob:

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11

Yeah, its worth doing if you can afford it. My interest rate was a bit bloody high tho - probably cos i was seen as more of a risk. I was basically leaning on the brother in law, with his good credit rating and his business to under write it.

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12

I see that makes sense, in which case idk - I probably won’t find a lender. Idk anyone who’s willingly to shoulder the risk either :smiling_face_with_tear:

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