I have a sum of money, which i intend to use towards purchasing a place in spain,i am curently on Incapacity B

Question

benefit,

will i be able to get a mortgage based onm my Incapacity benefit?....obviously when i have purchased the place in spain i will live over there and no longer get Benefit from the UK.

bvut my question is,

will i be able to get a mortgage if have 40% of the total price including tax....using my incapacity benefit as a proofof income sort of thing!?

Answer 1

Yes.  I live in Spain and Bankinter have just introduced a self certificate mortgage.  They will also give interest only mortgages over 30 years.  Thay have e-banking and speak English.  I have found them very helpful and reliable.  Check out their website for any further information you may need.

https://www.bankinter.com/www/en-es/cgi/...

Answer 2

Your benifit will not stop i have lived in spain for four year and claim benifit if as is my case you cannot work then you need to get form e126 from the dhss tell them your intetion and willsort it out the form also covers full medical service on the spanish health service for you and your dependants

Answer 3

yes. you can get self-cert mortgages up to a maximum of 60% loan to value which is based on you asserting that you can afford the repayments without the bank requiring proof of income. Only do this though if you know you will be able to afford the repayments. Have you checked out whether you can continue to claim benefits once you live here? People can still claim their pensions when they move to Spain so you may be able to continue claiming incapacity benefit.

In some countries, they actually send people to Spain to get better from operations/rheumatism etc. etc. because of the cleaner air and warmer dryer climate. I'm not sure if that is the case with the UK though.

Answer 4

Yes.

Answer 5

you say your benefits will stop if you move - how will you pay the mortgage. I think you might still get benefit from UK but if you ask about it they will tell you if your well enough to move then you dont need benefit - be carefull because they are very strict.