IPA Payments...

jellygirl_2 · 23 April 2009 at 9:16PM

I am likely to get an IPA when I move into rented house. I understand that you have to have at least £99 surplus pm, but question is, if you have a surplus that exceeds this, does the OR take a cut of the surplus over £99 or is the £99 included. So for example if I had a surplus of £200 would the OR take £100 or just £50. Thanks in advance:)

dottydora · 23 April 2009 at 9:17PM

I'm no expert as I dont have an ipa but I'm sorry, I think it's the £99 too.

Lightattheend · 23 April 2009 at 9:21PM

There is a useful table somewhere that shows how much the OR will take for an IPA - just not sure where it is! They take something like 50% of a surplus, with the percentage rising as the amount of surplus rises. Sure someone will be along soon with the table.

Merry_Gentry · 23 April 2009 at 9:32PM

Basically if you have £98 surplus, they won't take it. If you have £99 surplus, they will take £50. So a percentage of the total surplus, not the amount over £99.