Is paying off your mortgage deprivation of capital?

michaels

I have found various threads here and elsewhere some stating it is others that it isn't - does anyone know fro sure or which govt dept I should contact for a definitive answer?

Thanks

michaels

Bump - I guess the dearth of responses means no one knows?

Caz3121

you are probably better posting on the benefits board if you are asking re means tested benefits...the concensus over there seems to be that paying any unnecessary debts to enable the claiming of means tested benefits will be seen as deprivation...eg paying off credit cards instead of the normal payments and you would likely still be treated as if you still have the money

dmg24

Caz3121 wrote: »

you are probably better posting on the benefits board if you are asking re means tested benefits...the concensus over there seems to be that paying any unnecessary debts to enable the claiming of means tested benefits will be seen as deprivation...eg paying off credit cards instead of the normal payments and you would likely still be treated as if you still have the money

I agree on both points.

This board has become a graveyard ...

mjm3346

Not sure about that, if you have 100k in the bank that would put the mockers on means tested benefits. If you owned a house worth 100k but had nothing in the bank you could get benefits.