Money for house purchase — Scope | Disability forum
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Money for house purchase

mickymoo
mickymoo Member Posts: 34 Connected
in Universal Credit (UC)
Good morning 
I am currently claiming HB universal credit council tax support and awaiting lcw/lcwra and have  been awarded pip
We live in a council house and plan to exercise our right to buy  with 67% discount we have had this planned for quiet some time
My plan was to cash in my pension and get a mortgage for the remaining balance but now unable to work so cant get mortgage 
But unfortunately my father passed leaving me some money  but be a few months before I get that but have got my pension money 
I have read on government sites that I can have savings for 26 weeks if it's for buying a home 
My main concern is if and how it will affect my benefits and what do I put on my journal and is it right about the 26 week rule 
Thank you in advance 
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Comments

  • janer1967
    janer1967 Member Posts: 16,311 Disability Gamechanger
    Hi and welcome to the community, I am sorry I don't have the answer to yur questions but hopefully other members will have more knowledge
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  • Adrian_Scope
    Adrian_Scope Posts: 8,576 Scope online community team
    Hello @mickymoo. I'm sorry to read about your father.

    The disregard for 6 months / 26 weeks is after selling your home, the money from a house sale is disregarded for upto 6 months/26 weeks if you're intending to use the money to purchase a new home. Unfortunately it's my understanding that this doesn't apply in your situation, and the money wouldn't be ignored. Any money you have is counted as savings/capital. If this is over £6,000 you need to let Universal Credit know. Between £6,000 and £16,000 they will deduct £4.35 a month for every £250 over £6,000. If you have more than £16,000 your Universal Credit will stop.
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  • mickymoo
    mickymoo Member Posts: 34 Connected
    @Adrian_Scope
    Thank for your reply I can pay my car loan and credit cards etc so that iam debt free or not????
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  • mickymoo
    mickymoo Member Posts: 34 Connected
    @Adrian_Scope
    Hello Adrian does the £.4.35 per £250 per month affect HB or is it just whatever universal credit I receive no matter how it's made up
    Thank you
    Mickymoo
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  • mickymoo
    mickymoo Member Posts: 34 Connected
    @Adrian_Scope
    Sorry to be a pain when I get my pension pot which will be any day now I plan to my car loan and credit cards straight away ie within hours do I tell universal this or the remaining amount once paid all my debts
    Thank you
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  • woodbine
    woodbine Member, Community Co-Production Group Posts: 7,710 Disability Gamechanger
    With some legacy benefits this would have been seen as deprevation of capital however my understanding with UC this is ok, but you might want to check that with them.
    Be extra nice to new members.
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  • mickymoo
    mickymoo Member Posts: 34 Connected
    @woodbine
    Thank you for your reply so are you saying I can pay my debts  of  if so do I need to tell uc that I am paying debts of first or do I pay all my debts then tell them what I have left 
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  • janer1967
    janer1967 Member Posts: 16,311 Disability Gamechanger
    I personally wouldn't do anything without getting some expert advice from welfare rights or CAB 
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  • woodbine
    woodbine Member, Community Co-Production Group Posts: 7,710 Disability Gamechanger
    @janer1967 exactly, its always best to get further advice, in fact I would check with UC themselves.
    Be extra nice to new members.
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  • janer1967
    janer1967 Member Posts: 16,311 Disability Gamechanger
    I agree @woodbine but sometimes they dont have a lot of knowledge themselves especially at present as they are all working in diff depts to cover . 
    Also sometimes people dont actually want to discuss their financial situation with DWP 
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  • woodbine
    woodbine Member, Community Co-Production Group Posts: 7,710 Disability Gamechanger
    @janer1967 tell me about it, I had a really strange conversation with the DWP last week but in @mickymoo situation with an inheritance and pension he will have to tell them.
    Be extra nice to new members.
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  • janer1967
    janer1967 Member Posts: 16,311 Disability Gamechanger
    I agree he does have to tell them just think he needs advice before he does 
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  • mickymoo
    mickymoo Member Posts: 34 Connected
    @janer1967 @woodbine thank you for your input I,am going to workout how much my car finance personnel loan and credit cards are to clear then as soon as I get my pension pot tel uc the exact amount I've got and the exact amount I,ll be paying out to clear my debts I,ll wait about telling them my inheritance as I dont know when that will come through due to it going to probate and unsure of the amount just have to bite to bullitt and see what they say
    Thank you for your comments 
    Mickymoo 
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  • poppy123456
    poppy123456 Member Posts: 31,079 Disability Gamechanger
    @lodavyes the thread is asking for advice about savings they already have and means tested benefits. I'm not sure how your advice is related to that question. The link you posted is also in a different language.
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  • mickymoo
    mickymoo Member Posts: 34 Connected
    @lodavyes thank you for your reply I successfully completed on my house purchase in February of this year just waiting for LAND REGISTRY to do their bit now
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