Progressive Building Society have announced some forthcoming changes. See below for details. For current product information, lending criteria etc their intermediary website can be accessed here REMEMBER, you can also speak to our dedicated Specialist team for more information or guidance.
Changes to our criteria/income
The Society will now accept:
- 100% of mandated child benefit accepted when children are under the age of 12yrs and the applicant is not a high rate tax-payer (£50,250)
- 100% of adoption allowance, guardian’s allowance and disability living allowance paid to a parent of a child with a long term health condition (under 12yrs)
- 100% of state pension & war widow’s pension
Foster care income – we will consider the level of income over the past 3 years, as per the SA302 (contact the branch for more information on this)
- 50% of PIP -personal independent payment.
- 50% of carers allowance.
- 50% of constant attendance allowance.
- 50% of Industrial injuries disablement benefit.
- 50% guaranteed income payment for forces.
*this income will only be considered where there is a main income from another applicant.