Child maintenance payments can sometimes be considered by UK mortgage lenders, but it depends on the lender’s policies and the consistency and reliability of the payments. Here are some general guidelines:
- Lender Policies: Different lenders have different policies regarding what income they consider. Some lenders accept child maintenance payments, while others do not.
- Proof of Payments: Lenders that do accept child maintenance payments typically require proof that the payments are regular and reliable. This can include bank statements showing the payments being made over a certain period (usually six to twelve months).
- Legal Agreement: If there is a formal legal agreement or court order regarding child maintenance, lenders are more likely to consider these payments. An informal agreement may not carry as much weight.
- Documentation: You may need to provide documentation such as:
- Bank statements showing the receipt of payments.
- The maintenance agreement or court order.
- A letter from the Child Maintenance Service (if applicable).
- Income Consideration: Even if child maintenance payments are considered, they are usually only part of the income assessment. Lenders will also look at other sources of income, employment status, credit history, and overall financial situation.
To get a clearer picture, it’s advisable to speak directly with a mortgage broker or lender. They can provide specific information based on your circumstances and help you find lenders that are more likely to consider child maintenance payments as part of your mortgage application.