Tax Credits

Posted on 26 April 2010 by Patricia


Do any mortgage companies take into account tax credits?

Patricia

The good news is yes there are a large number of Lenders, including some of the largest names on the High Street, that will take both Working Family and Child Tax credits. The majority of these will take 100% of it's value, although there are some who will only count 50 - 75%.

When assessing affordability Lenders have to look at your ability to meet the repayments over the whole term of the mortgage and will normally want to see some form of earned income in addition to the Tax Credits.

 

Peter

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