i know a single lady who would like to buy a house but as she has kids and can not work at the mo is on income support can she aply and get a morgage?
2007-05-08 03:27:54 · 7 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Yes she can! There is alot of wk involved in it ie how long she has been recieving benefits etc.. However its unlikely she will be able to afford a home or the mtg repayments on benefits alone.
Tell her to go to her local estate agents (they normally have a free mtg advisor) and get them to do an agreement in principle.
They will be able to tell her all the ins & outs of mtgs & who her best bets are for lending!
2007-05-08 03:45:57 · answer #1 · answered by Grantius Maximus 3 · 0⤊ 0⤋
She probably needs to apply for Housing Assistance. Some states offer low mortgage rates to low income families receiving assistance. Some states that is called HUD.
She may have a hard time getting anything, but it is worth a shot!
2007-05-08 03:35:29 · answer #2 · answered by veronica 2 · 0⤊ 0⤋
Of course she can apply, but she is highly unlikely to have sufficient income to be granted a Mortgage in her own ritght.
Most likely she will need some-one (eg. a partner, Parent, sibling) who can act as a 'Guarantor'
2007-05-08 03:35:39 · answer #3 · answered by Steve B 7 · 0⤊ 0⤋
I would think it unlikely.The amount of income received from income support and benefits are unlikely to be sufficient to support a mortgage.Not unless some other income or assets are forthcoming.
2007-05-08 03:38:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋
In Scotland no, as she has no income and the DSS wont pay for it - how could she afford a mortgage?
2007-05-08 03:37:15 · answer #5 · answered by Carol M 1 · 0⤊ 0⤋
i know people who have never worked and still got a mortgage on their council house
2007-05-08 03:36:27 · answer #6 · answered by buggerlugs 6 · 0⤊ 0⤋
Of course she can apply - whether she gets it is another matter
2007-05-08 03:33:46 · answer #7 · answered by jamand 7 · 0⤊ 0⤋