Foster Care Allowance

Are you or your partner a Foster Carer and looking for a mortgage? This doesn’t mean you can’t get a good deal. There are lenders out there who will accept this as a source of income and will still give you a good deal. Have a listen to the 60 second clip and if you want to know more get in touch via email Your home may be repossessed if you do not keep up repayments on your mortgage.

Hi, welcome to your 60 seconds snippet of the mortgage world and we’re just going to talk a little bit about foster allowance and what I’m always surprised at is that people will tell us that this foster allowance exists and that they’re doing something great in order to foster but they just presume that lenders will just not acknowledge it whatsoever. That’s not the case, not the case at all. In fact, as you know, it provides a good income for the lifestyle, the home you live in. It’s just as important as other allowances other incomes. So why wouldn’t they accept it? Obviously, there’s some criteria, and the lenders will need to see evidence and probably quite a lot of evidence in order that it’s sustainable. But if you’re doing something as great as fostering, why wouldn’t they accept it? That’s why you need to speak to an advisor who will know and relating to your circumstances, be able to match everything together to suit you.

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