Housing Benefit

dangerman7uk

BigAunty wrote: »

It's not really a £60 loss because by the time there are repairs (tenanted properties have higher wear and tear). My friend rented her flat on a guaranteed rent scheme with a local council and got it back 3 years later totally trashed and unsellable until nearly 8k worth of repairs and refurbishment was undertaken. The tenant wouldn't move out either.

I know. This is a big gamble for me but I don't know of any better options. I need this thing gone, and if I can't sell then I need to rent. Northwood promise all kinds of insurances and guarantees that make me feel a little better about it all.

dangerman7uk

rogerblack wrote: »

As I understand it, one of the reasons a house may be excluded from consideration is if it's on the market.

I know this is the case for council tax benefit.
I'm unsure if it's for housing benefit too.
If it is, then putting it on the market may mean you can claim HB.

Yeah, that's a good point. I think I might get six months out of them. I wonder if Northwood will allow me to have it on the market for sale at the same time as their renting it out?

nimbo

dangerman7uk wrote: »

Yeah, that's a good point. I think I might get six months out of them. I wonder if Northwood will allow me to have it on the market for sale at the same time as their renting it out?

i don't think they would - how could they get a tenant to sign a 6 or 12 month lease of the house might sell next week?????

i now i wouldn't be interested in that as a tenent...

HappyMJ

dangerman7uk wrote: »

Because the house I own is only two bedrooms and I have three kids. And it's smaller than any other two bed houses I've seen - it's probably about the same square footage as a large static caravan. Plus there is no yard or garden, there is just an alley at the back of my kitchen and the front door opens straight onto the pavement.

To live here is poverty and we have no choice but to move.

I'm renting it at a loss, I'm losing at least £60 a month by renting it out.

How exactly are you losing £60 a month? If the mortgage had interest charged at the median rate of 3.63% then your mortgage interest would be £170 per month. If you are losing £60 a month then are you renting this place out for £110 per month?

dangerman7uk

HappyMJ wrote: »

How exactly are you losing £60 a month? If the mortgage had interest charged at the median rate of 3.63% then your mortgage interest would be £170 per month. If you are losing £60 a month then are you renting this place out for £110 per month?

In a sense you're right, so in 20 odd years I could come out on top. But mean time how am I supposed to live? Do you think they'd give me housing benefit if I went interest only? I'm paying £330 on my mortgage and I need to cover insurance, maintenance, repairs, excesses on insurance and boiler cover. I'm getting £300 per month from my future tenant.

Maybe you're right, if I just suck it up and try to manage I will probably come out on top after I've paid off the mortgage. However if I mess it up then I'll end up losing the house and destroying my perfect credit history.

Tough call.

real1314

Can we just stop all the made up advice and get down to the facts?

1. Karenx doesn't know HB/means tested benefit rules (not well enough to advice anyway)

2. Your rented out house is a capital asset (in some cases it can be a business arrangement but I suspect not here).

Assets are dealt with as follows:-

i) Determine value - you say £70k
ii) Deduct 10% sale costs (-£7k)
iii) Deduct any mortgage (-£56k)

That leaves an asset with £7k of value (in theory) possibly less if the LA Grant kicks into it. Income and expenses are not considered on a capital asset.
£7k alone does not stop you getting HB. Can you link to the page/site you read that made you think you can't get it?
:cool:

dangerman7uk

I get stuck at question 2 on this...

https://seftonclaims.teamnetsol.com/servlet/QuestEngine?TNSA_A=claim&TNSA_S=html&TNS_LI=false

It looks like they won't know for certain until I go and see them.

[Deleted User]

You chose to buy a 2 bed house and you chose to have 3 children, yet now you expect the tax payer to basically fund your investment..... Heard it all now :rotfl:

Lou76

Deleted_User wrote: »

You chose to buy a 2 bed house and you chose to have 3 children, yet now you expect the tax payer to basically fund your investment..... Heard it all now :rotfl:

Couldn't agree with you more.

Where has this "entitlement" idea come from?

I live alone, in a 1 bed flat, but I work from home and need a separate office space.

Up until now I've been using the dining room, but now I've sold my flat, and buying another which has a 2nd room I can soley use.

Maybe I should've asked the council to rehome me in a flat that would a) suit my needs, and b) be as roomy as this one. Would save me compromising, based on what I can afford.

Then again, I think I know what the answer would be...

dangerman7uk

Deleted_User wrote: »

You chose to buy a 2 bed house and you chose to have 3 children, yet now you expect the tax payer to basically fund your investment..... Heard it all now :rotfl:

You make me laugh. I AM THE TAX PAYER. It's amazing how ignorant people can be when it comes to money. Greed is what they call it in non capitalist countries. And that's what I call it too. I work hard full time plus I work significant overtime and I still don't earn much. But our corrupt government sees fit to take a ridiculous amount of tax from me. Everything I earn, everything I spend. I've also worked hard to become a degree graduate to only be rejected in further education and higher paying jobs.

One of my children is a step son, I'm doing my best to make sure he doesn't go without just because his real dad walked out on him when he was a year old. Non of my kids deserve to suffer poverty just because of mistakes I, or anyone else has made. I don't want charity. I would, however, like to know what I'm entitled to as regard getting tax breaks and tax back - which, if I'm not mistaken, is what I'm asking for.

I bought my house seven years ago as an investment property. When the market turned bad I ended up stuck living in it. Two bedrooms was not my choice as a home.

So do me a favour love and keep your silly ignoranus comments to yourself.