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Your Expert Guide to Remortgaging

Whole of Market Mortgage Advice Right at Your Fingertips

Read our articles for a wealth of mortgage advice straight from our experts. Wherever you are on the property ladder, we understand that you’ll have plenty of questions about how the mortgage process works and which loan is right for your circumstances right now. For all your questions, big and small, refer to our comprehensive mortgage advice to get the information you’re looking for.

Can’t see what you’re looking for? Browse our Mortgage Advice Hub or contact our mortgage advisors. They’ll be more than happy to assist.

Posted On: January 19, 2022

Can You Get a Mortgage On Benefits?

The good news is that being on benefits doesn’t necessarily have to be a barrier to getting a mortgage. However, as you can probably guess, there are criteria and circumstances that you usually need to fulfil.

We’re exploring some of the criteria which can boost your chances of being approved for a mortgage while on benefits in this article.

Do you have other income or assets aside from your benefits?

Having other income or assets aside from your benefits could boost your chances of being approved for a mortgage..

Is your income secure?

Even if your income is relatively low, if you can prove that it’s consistent and secure that will help your application appear more favourable.

What’s your credit score like?

If your credit score is good, this will also improve your chances of having a mortgage application approved.

As with all mortgages, the key is to prove that you can afford the monthly repayments. However, it can be difficult to calculate this without a little help.

That’s why it’s best to speak to a specialist mortgage broker as they have a wealth of experience helping people on benefits get onto the property ladder. They also have access to a broader range of mortgage lenders.

A specialist broker will be able to tell you if you are eligible for a mortgage and the likelihood of securing one that works for you. Mortgage affordability checks for people on benefits tend to be stricter, but an expert broker should be able to take these into account to determine your likelihood of bagging a mortgage.

If the prospect of securing a mortgage seems a little out of reach, speak to Agentis today. We are a specialist mortgage broker with 80 years’ combined industry experience. We can negotiate a good deal on your behalf, saving time, money and hassle. Whatever your financial circumstances, contact us today to arrange an appointment.