Mortgage Payment Protection Uk
Has anyone come accross the following scenario with the CSA and what
was your outcome?
I'm looking into mortgages at the moment but would like to know if the
CSA will allow a shorter repayment term (other than the standard 25
years) and if they will take into account a mortgage payment
protection plan
Also, aside from 1/2 pension, what other payments will they take into
account?
The CSA take into account travel to work 150 miles crow fly (you can
make departures for unusual routes ie Around North Circular esturies
etc) Pension currently only 50% will be 100% under new system.
Mortgage or rent up to half of your income. So yes increase that
little bugger. Also include mortgage protection. If you have over
night stay, two sevenths reduction ruffly depend on circumstance, if
not you can claim some travel contact costs, also if you have child
over night say you can apply for some home improvement grants which I
have heard people use to spread other debts.
Think thats it. Remember the CSA must assume you tell them the truth.
You do not legally have to inform them of changes in circumstance, so
if you get wage increase or something stay stuum. Also if your pension
was to high and you had to reduce payments you dont altermatically
have to tell them as long as you dont intent to defrord. i didn't tell
you that.
Anyway remember you cant beat the system but you can work out ways long term to reduce
payments.