Grandmother left me her house...£240,000 inheritance

Hooloovoo

cashbackproblems wrote: »

The reason you dont want to lose you benefits is as soon as you sell you will simply be using that money to live

And rightly so, surely?

You're suggesting someone with a quarter of a million pounds in the bank should get state assistance?

I've got far less than that in savings. Why don't I get any benefits?

and quicker than you think you will be back in the same position minus a property and it sounds like you have no job to get a mortgage.

True enough, but the OP will have more then enough money providing more than enough time to turn their life around. Leaving the money in the bank and continuing to live off benefits seems to be an awful waste of an opportunity.

cloud_dog

cashbackproblems wrote: »

The reason you dont want to lose you benefits is as soon as you sell you will simply be using that money to live and quicker than you think you will be back in the same position minus a property and it sounds like you have no job to get a mortgage.

Or you can just live there yourselves..

Perhaps like everyone else in the real world.

CBP you really need to re-think your outlook on life.

OP, through an unfortunate event you have a golden opportunity. What you do with that opportunity is up to you.

Not sure what property prices are like in your area or what you consider to be an acceptable property but you could:

• Be without benefits
• Buy a property
• Get a paid employment
• Use some of the remaining inheritance to cover child care costs
• Build for you and your family's future rather than just today

Just my suggestion.

EDIT: When I said.... 'Be without benefits', you would still be eligible for some benefits Child Tax Credits, Working Tax Credits(?), etc but not income/housing support, etc.

Hooloovoo

cloud_dog wrote: »

Just my suggestion.

The OP has said she wants to do exactly what you suggest.

It's just "cashbackproblems" and "JustinCredibleGillespie" that seem to wish to ensure a rather wealthy individual still get their benefits.

atush

I think putting in an useable kitchen and bathroom is a good idea- as it makes the house mortgageable so will attract a wider range of buyers. W.o it, it would be a cheap auction lot for developers who can afford to pay cash.

Do go to see CAB. Do sell the house, and do buy something cheaper for you to live in, and do use the money to live on and take some training to increase your employability (put the children into daycare if necessary). Basically, use this money to come off benefits and turn your life around. I am sure your Gran would approve.

Good luck to you.

cbrown372

The OP has already sold the house, says completion is iminent and obviously has enough money at the moment to double glaze, and fit new kitchen and bathroom so I'm not sure what the question is?

missile

cbrown372 wrote: »

The OP has already sold the house, says completion is iminent and obviously has enough money at the moment to double glaze, and fit new kitchen and bathroom so I'm not sure what the question is?

I was wondering how a single parent living on benefits, with a debt relief order was able to afford to do that?

cashbackproblems

Hooloovoo wrote: »

And rightly so, surely?

You're suggesting someone with a quarter of a million pounds in the bank should get state assistance?

I've got far less than that in savings. Why don't I get any benefits?

True enough, but the OP will have more then enough money providing more than enough time to turn their life around. Leaving the money in the bank and continuing to live off benefits seems to be an awful waste of an opportunity.

But assets do not count towards benefit entitlement so surely for her own benefit it makes sense to keep the property??! Thats the rules theres no benefit fraud, governements use any opportunity to tax we should do the same to claim.

Personally i work and have never claimed a penny and am no where near rich but just saying what id do in that situation. Dogooders get left behind

molly_mandy_2

missile wrote: »

I was wondering how a single parent living on benefits, with a debt relief order was able to afford to do that?

Exactly my thoughts.

jollyme

Unless I'm mistake there are conditions in relation to disposable income on a DRO which if exceeded revoke the DRO requiring the debts to be paid off - be careful

Hooloovoo

jollyme wrote: »

Unless I'm mistake there are conditions in relation to disposable income on a DRO which if exceeded revoke the DRO requiring the debts to be paid off - be careful

Presumably not too much to worry about for someone with a quarter of a million in the bank though, eh?