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Redundancy and Mortgage
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tabath
Posts: 493 Forumite
I'm not working atm and my OH is being made redundant at the end of this month. Am really grateful for all the advice on this site and its great to have a section on redundancy.
I have read the various guides and know you are allowed to pay off debts with your redundancy money.
Our question is this- we are about to receive about £40k - are we allowed to say pay off £34K of our mortgage, which will leave us £6k to cover capital mortgage repayments for a year or so as I know we are not allowed a mortgage holiday - and still claim/ receive JSA?
I have read the various guides and know you are allowed to pay off debts with your redundancy money.
Our question is this- we are about to receive about £40k - are we allowed to say pay off £34K of our mortgage, which will leave us £6k to cover capital mortgage repayments for a year or so as I know we are not allowed a mortgage holiday - and still claim/ receive JSA?
Starting MB- looking for Raf offers.
Amazon Club Sellers member 0015 come and join us make some space and get hold of some cash, we're on the Ebay and other auctions, Car Boot and Jumble Sales Board
Amazon Club Sellers member 0015 come and join us make some space and get hold of some cash, we're on the Ebay and other auctions, Car Boot and Jumble Sales Board
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I think that would be deprivation of capital for benefits purposes, my understanding you can pay anything due such as council tax for the year, but not something you don't have to pay. They would treat it as if you still had the money. If you ask on the benefits board they are very knowledgable on this sort of stuff.Grocery challenge July £250
45 asd*/0
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