Would i be entitled to anything?

sharkie9

I wonder if anyone can help me?! My partner and i are splitting up and we jointly own our house after we have paid of the mortgage and halved the money i will have about 50k (the place isn't on the market yet). I currently only work 12 hours a week and i am at college one eveining a week (due to finish college in july) i have two children 5 & 2 years old. At the present time with what i earn and pay out for childcare i can not afford to buy another house, however from what i can work out i will not recieve any benefits at all due to the money i recieve from the sale of the house. Is there anyway i would be entitled to anything? thank you

[Deleted User]

Family allowance,child tax credits,child support from ex
will you be living in the house till its sold?

cassieB57

you could claim Income support if you are the primary carer for the children (ie child benefit in your name) as you would be a lone parent and work fewer than 16 hrs a week. Your earnings over £20 per week would be taken into account. If you are not living in the jointly owned property, it will be ignored while you are taking steps to sell it and when it is sold the proceeds may be ignored for a period of time if you plan to use the money to buy another property. If you are not the primary carer for the children, but are available for work, you may claim JSA but you must also be actively seeking work, and only £5 per week of your earning would be ignored. You may be entitled to mortgage help if you stay in the house till it is sold, but not usually straight away.

sharkie9

No i will be moving into a rented house before sale of the house.

Oldernotwiser

Have you looked at properties in a cheaper area, a flat rather than a house or the possibility of buying a part buy part rent property?

What are the chances of increasing your hours to 16 so that you earn more and also claim WTC?

cassieB57

woodbine wrote: »

Family allowance,child tax credits,child support from ex
will you be living in the house till its sold?

'family allowance' has been called child benefit for at least 30 years now!!
I only point this out as a jobsworth penpusher working for DWP; and CHB will only be paid (as will child tax credit) to the primary carer for the children, which wasn't stated in the OP

harry7075

If you are going to get roughly £50,000 from the sale of the house I wouldn't have thought you'd be entitled to child tax credits or income support.

rolo_85

what I'd do is open up a bank account that you can access at anytime in one of your childrens names. put the money from the house in there. That way your savings aren't in your name. Not totally sure if its legal or not, so I'd look into it first before doing it.

allen35

harry7075 wrote: »

If you are going to get roughly £50,000 from the sale of the house I wouldn't have thought you'd be entitled to child tax credits or income support.

Child Tax Credits would be payable as it is the interest earned from investments (to be declared in your end of year declaration) rather than amount ofsavings which affect your entitlement although tax free savings such as ISA's are disregarded in full.

This would be dependant on OP being the parent caring for his children and claiming Child Benefit.

allen35

harry7075 wrote: »

If you are going to get roughly £50,000 from the sale of the house I wouldn't have thought you'd be entitled to child tax credits or income support.

With regards to Income Support, this wouldn't be payable due to having over £16000 in savings after the sale of the house and there may be problems if OP doesn't live in the mortgaged house as this may be classed as capital for benefit purposes, obviously this info' is accounting for OP becoming sole carer of his children

karenx

rolo_85 wrote: »

what I'd do is open up a bank account that you can access at anytime in one of your childrens names. put the money from the house in there. That way your savings aren't in your name. Not totally sure if its legal or not, so I'd look into it first before doing it.

That wouldnt work for 2 reasons. Firstly as she still has acess to the money it is still hers so still counted. Secondly trying to "get rid" of the money she will still be classed as having the money