Lending criteria for benefits
Lending criteria
Benefits
We can accept 100% of the following benefits:
- Widows pension
- Retirement pension
- War widows pension
- War disablement pension
- Child Benefit
- Foster carers
- Special Guardianship
60% of the annual benefit amount for the following benefit types will be used in the affordability assessment, subject to there being another earned income on the application. The benefit amount we use cannot exceed 100% of the earned income on the application.
We can accept only 60% of the following benefits:
- Disability living allowance (DLA)
- Personal independence payment (PIP)
- NI Contributions based Employment Support Allowance (ESA)
- Carer’s allowance (CA)
- Industrial injuries disablement benefit (IIDB)
- Scottish Child Disability Payment (CDP)
Evidence Required
- The award letter will be required to evidence this income along with bank statements.
- Bank statements will be required to evidence the last 3 benefit credits. Where Employment and support allowance is utilised, we will require a copy of the award letter and the latest bank statement evidencing the benefit credit.
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