New and improved lending
Great news. We’ve updated our Virgin Money lending policy and increased the types of benefit income we can accept. Within our affordability assessment, we can include:
- Adult Disability Payment
- Carer’s Allowance
- Child Benefit*
- Child Disability Payment
- Child Tax Credits
- Disability Living Allowance
- Disabled Person Tax Credits
- Employment and Support Allowance
- Incapacity Benefit
- Independent Living Fund
- Personal Independence Payment
- Reduced Earnings Allowance
- Universal Credit**
- War Disablement Pension
- Working & Family Tax Credit
*If either applicant’s total gross income is over £60,000, Child Benefit can’t be included as income.
**At least one applicant must be in receipt of earned income. Any Housing Benefit shown on the Universal Credit Award Letter should be deducted from the income.
Any questions?
For more about these changes, head to our lending policy. If you’ve got any questions, your BDM is the best person to answer them.
The team at Virgin Money