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LHA weekly/monthly query

wiggywoo9
wiggywoo9 Posts: 440 Forumite
Part of the Furniture Combo Breaker
in House buying, renting & selling
Hi my Local Housing Allowance for a 2-bed private rented place is £103.85, which is what I'm eligible for. Pretty new to all this, but does anyone have any idea, as this a weekly limit, what it would be monthly?

I was told LHA is paid in 2 week instalments, so it'd be around £206, then £412 for month? I'm been looking at places around the £380-410 pm mark, is this right? Wasn't sure, as not every month has 4 weeks? Should I times £103 by 4.4?

Sorry, being stupid, anyone help my brain rattling? :)
Up and onwards to the future!

:j

Comments

  • pmlindyloo
    pmlindyloo Posts: 13,104 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    To get the monthly rate you times the weekly rate by 52 and then divide by 12.
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    wiggywoo9 wrote: »
    Hi my Local Housing Allowance for a 2-bed private rented place is £103.85, which is what I'm eligible for. Pretty new to all this, but does anyone have any idea, as this a weekly limit, what it would be monthly?

    I was told LHA is paid in 2 week instalments, so it'd be around £206, then £412 for month? I'm been looking at places around the £380-410 pm mark, is this right? Wasn't sure, as not every month has 4 weeks? Should I times £103 by 4.4?

    Sorry, being stupid, anyone help my brain rattling? :)
    You would be looking at properties at £450 per calendar month. If higher then you pay the difference if lower your fortnightly payment will be lower.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • GDB2222
    GDB2222 Posts: 26,956 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    pmlindyloo wrote: »
    To get the monthly rate you times the weekly rate by 52 and then divide by 12.

    Yes, agreed, or multiply by 4.33.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • rentergirl
    rentergirl Posts: 371 Forumite
    LHA is generally paid two weeks in arrears and two week sin advance, if that makes sense.
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    rentergirl wrote: »
    LHA is generally paid two weeks in arrears and two week sin advance, if that makes sense.
    No, that doesn't make sense. My fortnightly HB cheques come every two weeks on a Saturday 13 days in arrears and 1 day in advance to the next day Sunday.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • wiggywoo9
    wiggywoo9 Posts: 440 Forumite
    Part of the Furniture Combo Breaker
    So what does that mean? Confused!

    What kind of rent am I looking at then? £425 pcm?

    Thanks!
    Up and onwards to the future!

    :j
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    £103.85 x 52 weeks = £5400.20
    Divide by 12 months = £450.01

    As Happymj said.
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