Savings definition and Mortgage dates

cw18

My DH had to pay for statements, as his bank didn't send paper ones if he'd had a cash machine version within the previous 3 months. I gave him loads of warnings, but he carried on using the cash machine. When the Benefits Agencies rejected them he ended up having to pay £10 for one from the bank -- and we had to foot the bill, as without it we'd have got nothing in the way of benefits.

I blew my stack at him when the same thing happened a second time :mad:

RedApple_3

cw18 wrote: »

My DH had to pay for statements, as his bank didn't send paper ones if he'd had a cash machine version within the previous 3 months. I gave him loads of warnings, but he carried on using the cash machine. When the Benefits Agencies rejected them he ended up having to pay £10 for one from the bank -- and we had to foot the bill, as without it we'd have got nothing in the way of benefits.

I blew my stack at him when the same thing happened a second time :mad:

Oh this bank statement thing is a pain! What with the drop in savings interest rates, if we ever get back on our feet with jobs again, I'm going to strongly consider the shoebox under the bed approach to storing money! Much less stressful

RedApple_3

Talking of bank statements, what happens about 'debts'? Can I show the credit card statement and have that amount deducted from my total 'savings'? I have a feeling the answer is no :-(

healy

RedApple wrote: »

Talking of bank statements, what happens about 'debts'? Can I show the credit card statement and have that amount deducted from my total 'savings'? I have a feeling the answer is no :-(

You are right the answer is no - debts are not taken into account.

cw18

definitely no. and if your bank account is in the red (as mine was) they treat it as a ZERO balance !!!

Matt_h_6

Hi, I'm not sure if this is the right place to post, but I have a similar dilemma. I've just been made redundant for the first time in 20 years and I'm planing my finances in case I can't find a job in the near future. One area of the benefits system that seems unclear to me is the £6K savings threshold. The web sites I've looked at seem to be a bit grey and refer to assets that can be easily liquidated. Now I understand that cash/shares are easy to turn into usable income so would count as savings, but I also have a second property I've owned for 5 years with a mortgage on it which would have some capital in it but I don't know how much. Do I have to sell this or is it not covered as "savings".

Thanks if anyone can help!

cw18

The value of the house will be classed as capital. Not sure how they calculate it, but there are very specific questions to property you own but don't live in. Not sure what type of property this is, but at a minimum they'd expect you to have rental income from it -- and that would count against you as it's income.

suelees1

cw18 wrote: »

They've always accepted computer printed statements from me, as the account is on-line only (the bank don't produce or send out statements)

I'm only just back on site from yesterday and see there have been several responses. It might be as well if you ring the Jobcentre to see if they'll accept these first. I'm an advisor and they always tell us they'll ony accept them from the bank - just goes to show. I'll quote you next time cw !!

Seriously cw I see you're a near neighbour. us Leyth, Bent and Bong-ers need to stick together .

cw18

Until a couple of years back I wouldn't have understood that "Bent and Bong" comment !!! We've lived here just over 7 years now (used to be Blackpool side of Preston), and it took DH yeeeears to explain it so I even vaguely understand it :rolleyes2

Leyth is a new one to me though !!

(It's the Atherton office always taken computer printouts from me -- just the cash machine ones they've refused)

RedApple_3

Just looked at the end of the JSA re-assessment form and there's a checklist for documents we should provide. It mentions form MI12 to claim help for mortgage or home loan.

Anyone know what it says? Should we have been given one?

Do we have to go and get it from the job centre or can we download one from somewhere?