Criteria

Mortgage Eligibility: What is your minimum and maximum age criteria?

Can I get a mortgage? Am I eligible? Your questions answered as we explore mortgage eligibility and the criteria for mortgage approval.

Written by Sophia Guy-White
Updated over a week ago

Can I get a Generation Home mortgage if all applicants are retired?

We require at least one applicant to be employed and/or self-employed when the mortgage begins.

Written by Sophia Guy-White
Updated over a week ago

How can I prove my forecasted state pension income?

Find out how to get your forecasted state pension figure using our guide.

Written by Alison
Updated over a week ago

What income do you accept?

Generation Home take a common-sense approach to assessing our mortgages and so we understand that everyone's circumstances are different.

Written by Millie
Updated over a week ago

Can I get a mortgage as a CIS Subcontractor?

Yes, CIS Subcontractor income is something we can consider.

Written by Alison
Updated over a week ago

What's the minimum income I need to apply for a mortgage?

The minimum income requirement will depend on the size and composition of your buying group.

Written by Sophia Guy-White
Updated over a week ago

Can I get a mortgage while using benefits as income?

Yes, you can use income from benefits.

Written by Sophia Guy-White
Updated over a week ago

How much can I borrow?

We don’t use income multiples to determine your loan amount. Instead, we carefully consider each applicant’s circumstances.

Written by Sophia Guy-White
Updated over a week ago

Can I get a mortgage using child maintenance payments as income?

We can only consider maintenance payments as income if it is court-ordered.

Written by Alison
Updated over a week ago

Does Generation Home lend to students?

Unfortunately, we do not lend to most full-time students.

Written by Sophia Guy-White
Updated over a week ago

What is a dependent and how does this affect your mortgage application?

A dependent is someone that relies on you financially. This person can be a child or adult and they can have various relationships to you.

Written by Millie
Updated over a week ago

How to obtain a Universal Credit statement

A step by step guide on how to download a Universal Credit statement

Written by Millie
Updated over a week ago

What if I've recently changed employment?

If you have changed from self-employed to employed or vice versa. In order to look into this, we would want to find out more information.

Written by Millie
Updated over a week ago

Can we accept customers during their probation period?

When starting a new role, most employees have a probation period of around 3-6 months.

Written by Alison
Updated over a week ago

Is Stipend income acceptable?

Stipend income may be accepted.

Written by Alison
Updated over a week ago

Can I get a mortgage on a fixed term contract?

Can I get a mortgage on a fixed term contract with Generation Home? Yes! Getting a mortgage on a fixed term contract is possible. Read more.

Written by Sophia Guy-White
Updated over a week ago

I'm on a zero hours contract. Can I get a mortgage?

Yes, you can get a Generation Home mortgage on a zero hours contract.

Written by Sophia Guy-White
Updated over a week ago

Does Generation Home accept income from bank work?

We are able to accept those who receive income from bank work.

Written by Millie
Updated over a week ago

I've just started a new job, can I apply for a mortgage?

We would require to see your new signed contract and your first month's payslip from your new job.

Written by Sophia Guy-White
Updated over a week ago

Can I get a mortgage if I'm on maternity or paternity leave?

Getting mortgage when you are on maternity or paternity is possible! Read below to understand more.

Written by Sophia Guy-White
Updated over a week ago

Does Generation Home accept income from a second job?

Generation Home is able to take into account income from a second job.

Written by Millie
Updated over a week ago

Is getting a mortgage when self-employed possible?

Getting a mortgage when you're self-employed is possible! We consider mortgages for self-employed buyers with 1 year of accounts. Read more.

Written by Sophia Guy-White
Updated over a week ago

Can I use cryptocurrency towards my mortgage?

More and more people are investing in cryptocurrency and are looking to put these investments towards a home purchase.

Written by Millie
Updated over a week ago

Can the person gifting my deposit live in the property?

If your deposit is being gifted by someone who is not an income or deposit booster, they are able to live in the property.

Written by Millie
Updated over a week ago

Can I use the Forces Help to Buy Scheme with Generation Home?

In order to use a Forces Help to Buy with a Generation Home mortgage, you need to already be approved by the FHTB scheme.

Written by Millie
Updated over a week ago

Lifetime ISA

What is a LISA and can I use this as my deposit?

Written by Millie
Updated over a week ago

What can I use for my deposit?

We accept a number of different deposit sources. Here is our list of acceptable sources.

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Written by Stephanie Roshier
Updated over a week ago

Can I use a Help to Buy ISA with a Generation Home mortgage?

Absolutely, you can use your Help to Buy ISA with a Generation Home mortgage.

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Written by Stephanie Roshier
Updated over a week ago

How to complete Identity Verification

How do I provide proof of ID?

Written by Millie
Updated over a week ago

What if I work away?

Can I get a Generation Home mortgage if I work away from home?

Written by Millie
Updated over a week ago

Do I need to have UK residency to apply for a Generation Home mortgage?

Yes, where an applicant is a Foreign National, Generation Home will check that the applicant is entitled to live and work in the UK.

Written by Sophia Guy-White
Updated over a week ago

What does 'right to reside' mean?

Right to reside means you have the right to live in the UK.

Written by Sophia Guy-White
Updated over a week ago

Can I apply for a mortgage if I am here on a visa?

We may be able to accept a visa, please reach out to us.

Written by Alison
Updated over a week ago

Can I apply for a Generation Home mortgage using the Rent to Buy scheme?

Unfortunately, we cannot provide you with a mortgage if you are using the Rent to Buy scheme.

Written by Alison
Updated over a week ago

Can someone move into the property with me?

Yes, you can have someone living in the property with you.

Written by Alison
Updated over a week ago

What is Let to Buy?

A let to buy mortgage is where you change your existing mortgage so that you can rent out the property

Written by Alison
Updated over a week ago

What is the Right to Buy scheme?

Right to buy allows most tenants of council-owned properties to buy their homes from the council at a discounted price.

Written by Alison
Updated over a week ago

Does Generation Home offer Buy to Let mortgages?

No, we don’t and that’s because we aim to help our customers become homeowners.

Written by Sophia Guy-White
Updated over a week ago

Can I use a shared ownership scheme with a Generation Home mortgage?

Unfortunately not, we don't currently offer mortgages on shared ownership properties.

Written by Sophia Guy-White
Updated over a week ago

Can I use the Help to Buy Equity Loan Scheme?

You can use the Help to Buy Equity Loan scheme alongside your Generation Home mortgage.

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Written by Stephanie Roshier
Updated over a week ago

Can I get a Generation Home mortgage using the First Home Scheme?

Unfortunately not, you cannot get a Generation Home mortgage while using the First Homes Scheme.

Written by Sophia Guy-White
Updated over a week ago

I took a payment holiday during the COVID lockdown, can I apply?

If you took a payment holiday as a result of COVID, we need some more information on this.

Written by Sophia Guy-White
Updated over a week ago