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JSA (IB) refused - Rental income too much, yet no money to live on! Advice welcomed.
Comments
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As you have 'employment income' (as a self-employed landlord) I have to say I'm not surprised you can't get JSA -- I always understood that to be for someone who's completely out of work and looking for a job.
If you have a job that doesn't give you enough income to meet what the government says you need to live on, then Income Support (and Tax Credits if you qualify, but as you're presumably under 25 - given you've recently graduated - you don't) are what bring you up to the minimum requirements of income.Cheryl0 -
Id go with that; JSA for someone is technically classed as working, is never going to happen. Lol.As you have 'employment income' (as a self-employed landlord) I have to say I'm not surprised you can't get JSA -- I always understood that to be for someone who's completely out of work and looking for a job.
If you have a job that doesn't give you enough income to meet what the government says you need to live on, then Income Support (and Tax Credits if you qualify, but as you're presumably under 25 - given you've recently graduated - you don't) are what bring you up to the minimum requirements of income.0 -
What possessed you to buy a house that you couldn't afford if you were at uni with a part time job?
Did you think that your degree was going to give you all the money in the world immediately after graduating?
And it is correct for the DWP not to class you as a sole trader - because you're not. You have 'income from property' and just because you have to complete a tax return for this, does not make you self employed.0 -
moggylover wrote: »I hope things go better for you soon.
@ moggylover : thankyou for the sympathy. I have applied for every shelf-filling job and others I can find in my area and have already renegociated cheaper fixed-rate deals on my gas/elec, I am currently staying alive by my friends giving me leftover food, so there really is not much more I can cut back on without somehow cutting and running from my house. Thankyou anyway, and take care
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Ok, first things first. As I'm sure you're aware, finding employment would greatly help your situation (stating the obvious, I know!). Can I ask what you graduated in? Knowing what you graduated in will enable posters to make appropriate suggestions as to what you can do, and where you might find work.
Briona
@ briona : Your suggestions are all greatly appreciated and sensible. I graduated in Fine Art [yes i know - eek!] and I am attempting to get started in the photography industry since that is the most 'commercial' skill I have acquired on my course. It is not an easy thing to get into - like any creative industry it requires networking and potentially working for free at first.
I keep applying to *every* job I am qualified for [ie. not that many]. I am dyslexic which makes admin jobs harder than they should be, but I apply for every warehouse, shelf stacking, and retail jobs that come up. So far I get responses for about 15% - 20% of my applications and have obviously had no successes at my interviews.
I have already listed all my possessions that will fetch a profit apart from my computer [needed for job-search] and camera. This is what is currently covering my shortfall. I will try and tout for more work in cat-sitting [i love cats!] and dog walking [I'm sure I'd get the hang of it]. I am not very maternal [yet!] and I feel awkward around children [i know it sounds weird!] I will see what else I can come up with.
I would love to move out and rake in the cash from my room, but I don't have anyone to ask - all my close friends have moved to London to find work and my parents are the other end of the country [which would make managing the property impossible] not to mention they have no space for me and my cat! I will keep my eyes open for any opportunities to do this though.
And your (?) after the "his" was correct, i am female (and thankyou for explaining/sticking up for me!) 0 -
So it's your tenants and taxpayers who should buy your house for you plus give you £45 per week to live on. Your contribution to this will be?
Try working.
@KimYeovil
I make a *loss* of £45. [and if you read you would see it was p/m as well] I bought the house with a mortgage and a 40% deposit. They pay the interest on the mortgage not the repayments. I am also a taxpayer remember.
As for the working bit - I do 'work' in a sense to keep this property, I have just spent £3000 on a essential roofing repair [which came out for the savings set aside for my mortgage repayment vehicle] this involved hours of negociations with my builders to get a better price and with my my neighbors for access [they were *very* difficult]. I also spend 10 hours a week doing bookkeeping and general maintenance for the property.
I apply for *every* job I am qualified for and have had no luck for the past 3 months. I didn't apply for JSA straight away because I didn't want to live off the state and felt I could survive since I had a roof over my head. So please do not imply I am scrounging.
I do not 'twiddle my thumbs', I am trying to do everything In my power to stay afloat, and my rent was giving me enough 'profit' to make repayments on my mortgage before the recent mortgage interests increase. Hence the rent *was* high enough when I went into this investment - and I cannot increase the rent more than I have whilst retaining tenants. I do not have a "free business" according to the DWP remember - otherwise I would qualify for the Self Employed application route for JSA and not be in this mess.0 -
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Oldernotwiser wrote: »I think that the OP needs to forget about being self employed as it's obviouslynot providing any income; getting a job of some sort seems the only way forward.
I am trying! I spend all my waking hours trawling websites, writing covering letters, tailoring my CV, ring to check people have received applications etc. I spend so much time trying to get myself out of this mess, I never leave the house which is starting to cause sever depression to be honest. I start feeling like I am a leper or something.
I know you weren't trying to be mean btw - just expressing how hard I am trying and how difficult it seems to be!0 -
but interest rates have come down over the last couple of months
I am on a fixed rate. It seemed more sensible to do that since at the time money was ok - interests rates were predicted to keep rising, and I try to keep everything on a fixed amount to keep my rents steady and covering everything. And my interest rate is now on a Buy to Let [which is horrid again since I don't class as self employed by some peoples standards!] despite it being my primary residence, which means my interest rate is at 6.69% 0
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