Advice please I have savings will my benefits stop

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steve0306
steve0306 Online Community Member Posts: 13 Connected
edited June 2022 in Benefits and income
Hi am 55 due to a stroke 8 years ago it’s left me disabled,,I claim disability benefits, I have my own house , with 6 years left on my mortgage, it’s a struggle to pay all my benefits go toward it ,(I do get a mortgage loan from DWP),, with my disability the house is becoming difficult to maintain as well , I am tempted to sell and move in to a anchor rented studio flat with 24 emergency call etc ,,,obviously it will leave me approximately £40 k savings ,will all my benefits stop ,thanks sc

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  • poppy123456
    poppy123456 Online Community Member Posts: 64,463 Championing
    edited June 2022
    IT will depend on exactly what benefits you're claiming. PIP isn't means tested but council tax reduction, Income Related ESA/JSA/INcome Support and Universal Credit is. Savings of more than £16,000 will mean entitlement to these will end.
    Do be aware that because you're currently receiving the SMI for help with the mortgage then this will need to be repaid back. https://www.gov.uk/support-for-mortgage-interest/repaying-your-loan

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