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1124957

	registered interest
	date	07/05/2019
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Universal Credit: Mortgages
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what recent assessment she has made of the difficulties faced by universal credit claimants applying for a mortgage; and if she will make a statement.
	tabling member constituency	East Ham
	tabling member printed	Stephen Timms
	uin	251193
	answer	answer is ministerial correction date of answer 13/05/2019 answer text <p>The Financial Conduct Authority Handbook sets out rules and guidance for lenders. This provides that, prior to entering into a mortgage, a lender must assess whether the customer will be able to pay the sums due and must not enter into the transaction unless it can demonstrate that the mortgage is affordable for the customer (and any guarantor).</p><p> </p><p>It is up to individual lenders to determine how to ensure adherence to this requirement. Each lender is required to publish a written statement setting out the factors it will take into account in assessing a customer's ability to pay. This must, inter alia, address how income and expenditure is to be assessed, including details of the types of income which are acceptable.</p> answering member constituency Colchester answering member printed Will Quince question first answered 13/05/2019 12:55:26 answering member 4423 label Biography information for Will Quince
	tabling member	163 label Biography information for Sir Stephen Timms

1110554

	registered interest
	date	09/04/2019
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Universal Credit: Mortgages
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what guidance her Department has issued to mortgage lenders to help them to assess a claimant's payments under in universal credit in order to enable lenders to make a informed assessment on an applicant's disposable income.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	242894
	answer	answer is ministerial correction date of answer 16/04/2019 answer text <p>The Department does not provide mortgage lenders with guidance or information regarding a UC claimant’s entitlement or award. It is a claimant’s responsibility to disclose information required by potential lenders, to enable them to accurately assess their disposable income.</p> answering member constituency Colchester answering member printed Will Quince question first answered 16/04/2019 14:15:11 answering member 4423 label Biography information for Will Quince
	tabling member	4470 label Biography information for Alan Brown