What is Capital when claiming housing benefit ?

lindabee_2

Can anyone advise, I'm living in rented accommodation with family whilst going through a divorce, really struggling to make ends meet and been told I'm not entitled to Housing Benefit as the marital home is Capital. The marital home is to be sold but ex is dragging it out, I have no savings, work part time and receive Working Tax Credit and Child Credit, is this correct that I'm not entitled to Housing Benefit ?? I could understand if I had received money from the sale of the house. Any advice much appreciated.

DX2

Does the amount of capital/savings I have affect my housing benefit claim?


It will depend on the amount of capital/savings you and your partner have as to whether it will affect your benefit entitlement.

• If you and your partner have joint capital of more than £16,000 you will not normally be able to get housing benefit entitlement
• If you or your partner are aged 60 or over you can have up to £6,000 capital before it affects your benefit entitlement
• Income of £1 for every £500 between £6,000 and £16,000 is taken into account when we work out entitlement to benefit
• •If you and your partner are aged less than 60 you can have up to £6,000 capital before it affects your benefit entitlement
• •Income of £1 for every £250 between £6,000 and £16,000 is taken into account when we work out entitlement to benefit
• Capital includes cash, current accounts, other bank/building society/post office accounts, unit trusts, ISAs, TESSAs, National Savings Certificates, shares, premium bonds and property (other than the home you live in) or land you own

Oldernotwiser

When you say "living with family", do you mean your children or are you living with another family member?

bunny999

You can't get housing benefit if you own / part own a property.

real1314

1. You can get HB even if you own a property, but the equity may affect the award.

2. Op - how much is the equity in the property, and what share would be yours?

Also, is it actually on the market?
Who is currently living there?

lindabee_2

I am living with my children in private rented accommodation, no partner. The equity in the property will be around £40,000 each when it sells, I am trying my best to get it on the market but my husband who I'm separated from and is living in the marital home is taking his time to get repair work done in order to put the house on the market. When I do eventually receive the equity I need to use it to help purchase another home. It would be my choice to have stayed in the marital home but this was not possible when we separated.