Welfare as Savings when applying for mortgage

[Chris2014]

I'm currently saving about 500 a month Child benefit and FIS then topping up another 200 the day after i get paid monthly.

Is this okay when applying for a mortgage as proof of savings or should i get the whole lot into my Current account and have one monthly lump sum going into savings account?

I'm applying for a single mortgage with 2 dependents in 6 months time.

Would they view saving 500 in Welfare Payments and 200 cash differently to 700 in cash from wages?

Thanks

 

[moneybox]

I'm currently saving about 500 a month Child benefit and FIS then topping up another 200 the day after i get paid monthly.

You great for being able to save so much while in receipt of FIS and in low wages.

I think the main thing the bank will want to know is, will your earnings from work be sufficient to pay the mortgage. That will be the deciding factor. Borrowing is usually limited to 3.5 times salary for single person.