Halifax clarifies criteria for foster carers in affordability tests – Mortgage Strategy

Halifax has clarified how it will use foster carers’ income in its home loan affordability tests.

This follows an announcement from the company last month that it would “support customers working in this sector with home ownership”.

The income of foster carers must be entered as income from self-employed persons with two annual figures. Income will be verified against tax calculations/annual tax statements for the self-employed as standard, the lender says on its broker hub.

But it adds that the company will also accept a letter from a foster care agency with two annual figures as proof of income.

Foster children must be registered as dependents, the lender said.