Benefits - What am I entitled to? Is this correct?

Bivio

Long time user, but new ID for this post.

History: Was made redundant from a role that paid me in excess of £50K pa and am now on JSA.

Current position: Married with Children (currently at school). During the good times we were smart enough to save a bit of money. With my leaving package we now have, between cash and shares, ~ £120K. We own four properties; our home, a holiday home that we use and do not let out, two other houses which are let out. My Wife is self employed and before expences her business brings in ~ £12Kpa. All our let properties, holiday home, savings and shares are in her name as she was the lower rate tax payer. Our childrens savings are also in her name. Our holiday home is owned outright, whereas the our home and other two properties have mortgages on them.

Current Income: Wife self employment £12K pa, House Rent £11K pa, interest from savings. I have JSA and also have a claim going through for mortgage protection (privately held insurance policy)

Just ran all our details through the benefits checker and the only additional benefit we would receive to what we get now (Child Benefit) would be Childrens tax Credit.

I was expecting help with our Council Tax at least!!

Does that sound correct?

One avenue I could go down to to use our savings to as much of our mortgage off as possible, but it doesn't look as if that would increase the amount of benefits we could claim due to property owned.

McKneff

This is a wind up, right?

Soapn

how about doing it the old fashioned way and selling off one of the four properties you own and using the money from that to pay your own way?

Mara69

Of course it is a wind up. OP is living in cloud cuckoo land!

Bivio

Any reason why I should be penalised for saving and building for the future rather than blowing my wages on hookers and coke?

Considering I used to pay in excess of £1,500 in Tax and NI a month I think I'm just as entitled to benefits as the next man. The fact that he may have blown all his spare cash on hookers and coke and I didn't really shouldn't have much to do with it.

Cornish_piskie

You aren't entitled to benefit as you have over £16k of capital.

If you are finding your outgoings tough to meet then you should look at whether you need to hang onto your assets or free some up. Surely that is what you have saved for?

McKneff

Bivio wrote: »

Any reason why I should be penalised for saving and building for the future rather than blowing my wages on hookers and coke?

Considering I used to pay in excess of £1,500 in Tax and NI a month I think I'm just as entitled to benefits as the next man. The fact that he may have blown all his spare cash on hookers and coke and I didn't really shouldn't have much to do with it.

See the bold script.

This IS the future you have been saving for.....:rotfl::rotfl::rotfl:

Im a pensioner, my OH and I live on less than £12K income a year. Built and saved for our future and even I cant get any benefits apart from 60% state pension.

Cant see what you paying Tax and NI have to do with it really, I did too for 47 years and look where its got me...........

Anubis_2

Benefits are a safety net for when you don't have enough capital or income to feed/house yourself.

You have more than enough, and more than most working people. IMHO you shouldn't even get CTC.

Soapn

it's mine mine mine I tell you. Give me some money and I'm hanging on to my 4 properties and £100,000+ in shares and cash.

flippin joke

Anubis_2

Soapn wrote: »

it's mine mine mine I tell you. Give me some money and I'm hanging on to my 4 properties and £100,000+ in shares and cash.

flippin joke

Don't firget the 23k income!

Agreed. Heck, I don't even own one property! A lot of workers are struggling to pay their mortgage on one property which is their home.

It's more than a joke, it's insulting those in geniune need and is also insulting the many workers who struggle.

dseventy

Bivio wrote: »

Does that sound correct?.

Yes.

Bivio wrote: »

One avenue I could go down to to use our savings to as much of our mortgage off as possible, but it doesn't look as if that would increase the amount of benefits we could claim due to property owned.

As the amount of money you owe on the mortgages is not "due and immediate", you can do this but for benefit purposes you will be treated like you still have it.

May I suggest that the "rainy day" you saved for, or the "future" is here, therefore you use our 120K or 2nd/3rd/4th properties to take care of you and yours?

D70