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Support for mortgage interest benefit cut by thousands of pounds
Comments
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And claim for the rent instead ? yes OK
If necessary yes...that way,the house would be returned to the market.
I would like a Ferrari but i cant afford one.
I'd like a detached house but i cant afford one.
If i cant afford it,then why should be tax dollars be used to subsidise the lifestyles of others.Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..0 -
PasturesNew wrote: »That bit hurts me. The income I'd expected from my savings would have paid basic rent and basic bills on a basic flat in a basic area. But it's all gone. This has lead to me being over-cautious with all other expenditure to the point where I daren't/hate spending a penny that's unnecessary.
At times, my income's been equivalent to about £10k/year, theoretically qualifying for WTC, but being disallowed because of their guesstimate of how much interest I'd be getting, which is some crazy high figure they work off.
My fund is my house money. There's no more to go into it. There'll be no mortgage for me in the future. What's there's there, so I can't dip into it. So I just cut back and back and back, cutting my cloth to my current (this month's) income all the time.
Pastures, this confused me. I know my claim is for CTC as well as WTC, so that's different from you, but it's one claim for both bits, and they've never asked me anything about my capital. The form asks me to state how much income I got last year it three sections - from employment, from self-employment, and "other" - which includes interest. They don't do any estimating of how much interest I should get on my capital.
Other benefits do take capital into account and have silly ideas of how much you can get. I can't remember offhand which benefits - just that they are ones I'm not claiming. I think it might be housing benefit (or LHA or whatever it's called) and council tax benefit. I know I don't get those, and I think it's because of my capital.
Could you try again at claiming WTC?Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.0 -
C_Mababejive wrote: »If necessary yes...that way,the house would be returned to the market.
I would like a Ferrari but i cant afford one.
I'd like a detached house but i cant afford one.
If i cant afford it,then why should be tax dollars be used to subsidise the lifestyles of others.
Even if it costs us taxpayers more in rent than mortgage? BTW it is Sterling in the UK.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
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Graham_Devon wrote: »Absolutely yes.
Why should the taxpayer be BUYING someone's house for them and once the loan is repaid, effectively gifting them this house tax free.
Glad your not in charge of cutting the deficit
BTW they only pay interest not capital. 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
wrong.They pay a fixed percentage that can,and often does payoff part of the capital.0
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wrong.They pay a fixed percentage that can,and often does payoff part of the capital.
Wrong, they pay a fixed % in lieu of interest, for many now (with the new rate) it doesn't even cover the interest and is well below the equivalent rental (an example was quoted previously).
Thanks ukcarperWhere I am LHA 2 bed £747 per month, 2 bed house £150,000 interest at 3.63%, £454 per month what would rather your tax paid for?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
http://www.dwp.gov.uk/docs/support-for-mortgage-interest.pdf
Over 50 % are pensioners, only 10% of SMI claimants are under 40.
Chew on that for a bit...It all seems so stupid it makes me want to give up.
But why should I give up, when it all seems so stupid ?0 -
Shakethedisease wrote: »http://www.dwp.gov.uk/docs/support-for-mortgage-interest.pdf
Over 50 % are pensioners, only 10% of SMI claimants are under 40.
Chew on that for a bit...
I'm surprised! Why have so many pensioners on low incomes got mortgages? MEWed?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Glad your not in charge of cutting the deficit BTW they only pay interest not capital.
They pay a fixed amount. This fixed amount may pay only a percentage of the interest, or may pay all of the interest and some of the capital.
This has been said over and over, so not sure why people keep saying they pay the interest only.
If you are glad I'm not in charge of cutting the defecit, can I take it you are therefore in agreement with paying peoples mortgages off via the taxpayer?0
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