Todays' Strikes - Food for thought

It is all going to happen again

I work with Tax Credits, people on LOW INCOMES

The past six months the amount who have asked for a copy of their award
What for ?
The bank includes the tax credit benefit as income calculating the mortgage loan
and need proof

You can have tax credit for months, and the next day it could and usually is GONE
The banks are today loaning cash to low paid workers based on false incomes, and including benefits in the calculation
Tax credits, yes £240 a month for a child, but when that child is sixteen it is gone, some are getting a mortgage based on this and the child is 15years 11 months,
Same with working tax, £360pm included in the calculation, but as soon as the income earned is over £18k ZILCH it is no longer there

Worst case senario is having £600pm included in income earnings for a mortgage and tomorrow that £600pm is gone
Even at best if the child is new born you have a max of two years as Tax credit ceases in 2013

Yet the banks are giving mortgages out today based on this income

It is doomed to fail, but the Gubernment will still have to bail them out with our money, as no banks, means no one has money end of story

Why are the banks been allowed to do this?

Jack McH