Working Families Tax Credit

Working Families Tax Credit

Money Box asked a selection of the largest lenders if they accept Working Families Tax Credit as income when assessing applications for mortgages, personal loans & overdrafts.

The results are listed below but please contact your own branch about individual circumstances.

Those who answered 'Yes we do accept Working Families Tax Credit as income when assessing applications for mortgages, personal loans & overdrafts' include :

Alliance & Leicester
Bank of Scotland
Halifax group (including Birmingham Midshires & IF)
HSBC
Royal Bank of Scotland/Nat West

Other responses include:

Abbey National:
Mortgages: Are assessed on an individual basis.
Loans: Willl consider the WFTC as income but each case is assessed according to individual circumstances.
Overdrafts: Yes we do accept WFTC as income when assessing applications.

Barclays: Were not able to respond to our survey.

Bradford & Bingley:
Mortgages: No we do not accept WFTC as income when assessing applications.
Loans: Do not offer loans.
Overdrafts: Do not offer overdrafts.

Lloyds/TSB:
Mortgages: Are assessed on an individual basis.
Loans: Yes we do accept WFTC as income when assessing applications.
Overdrafts: Yes we do accept WFTC as income when assessing applications.

Nationwide:
Mortgages: No we do not accept WFTC as income when assessing applications.
Loans: No we do not accept WFTC as income when assessing applications.
Overdrafts: Yes we do accept WFTC as income when assessing applications.