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No Mortgage renewal, Remortgage if you are a carer on DWP. - Carers UK Forum

No Mortgage renewal, Remortgage if you are a carer on DWP.

Share information, support and advice on all aspects of caring.

By way of information and also a question of help.

We, as carers know how tight living can be.

I have, over the past few months, received letters from my mortgage company, GE Money, informing and telling me of ways to save money on my mortgage, saving if i consolidate debts (have none), get better mortgage deals with GE Money and Abbey or other lenders without early repayment penalties and how this is the best time to sort rates etc out.

WOW, i thought.

I called the call centre (UK), completed the telephone application, great rates, so much more potential for my family, so much savings for me. PROCESSING, PROCESSING. 20 minutes later, "OH, sorry, we can't help, you are employed a carer". How degrading. "You're on DWP benfit payments", no one will help you out if your not employed.

WHAT? "We will try and put you through to another company who we work with that may help you, Mortgages by phone".

Same response at the end of the application, but, they were willing to quote me on life insurance etc, which, Carers can buy from them.

I know this is their money they are lending me, yet, can they discriminate?

I am sorry that i do not earn £35k anymore from work, as i am caring for my wife full time. Are they allowed to do this? Can you help?

I am so down about this.

My mortgage is up in May 2010, so less than 7 months to go. What am i to do after that? My rate is 5% now and after May 2010, the rate ends and it will go to 6% plus the base rate.


Stephen Keery
I suggest that you speak to your own bank about a loan, also that you find yourself a good mortgage broker, check out their charging policy first though, whether you are charged for the mortgage broker's service should depend on the bank you take the mortgage out with, most pay a commission but if you end up with a loan from one which does not you will have a fee to pay.
Hey, i know that. My bank, who i bank with, gave me the same story. Not employed. Won't look at me.
Are you on IS, you can get help with mortgage interest.
I understand that although mortgage lenders have tightened up their lending criteria and many high street banks will not lend to benefit claimants some currently still do although they may only take a percentage of certain benefits into account. This is why I suggested a mortgage broker, a mortgage broker will have up-to-date knowledge in what is at the moment a constantly changing lending environment. Of course in seven months time this may well change and there are other factors which might influence the outcome such as LTV.
i currently get mortgage interest payments and will have to reapply if changing from my income support. Thanks guys. I will call a broker today