What is my family entitled to after loosing a job

Dunroamin

ljcook wrote: »

We are interest only at 1.1% above base so there's nothing we can do. The fixed term has ended, we were making overpayments each month as that rate. But once the interest rates start going up we will need to fix it fast & our current mortgage company are not taking any new policy's on, so we'd have to get a different lender which won't be fun on a 200k mortgage both newly self employed with now low earnings. ��

If you've been making overpayments on your mortgage, that'll give you a better chance of being given permission to take a mortgage break.

Cookieraider_2

pmlindyloo wrote: »

ljcook wrote: »

I'm not sure I understand what you are saying.

Unless you get some income into the household pretty soon as you have no savings you may not be able to pay your mortgage

What I am suggesting is that you talk to your mortgage lender.

This situation is very common and there are government guidelines for mortgage lenders in these situations. They are expected to follow certain protocol.

Shelter has a good guide on this:

http://england.shelter.org.uk/get_advice/debt_and_arrears/mortgage_arrears

I did phone them and said he may be made redundant, when we first heard & they didn't offer any advise

Cookieraider_2

So it seems to me (obviously i'll check with the relevant agency's) we will only get council tax benefit, child benefit, & Job Seekers if we as a couple don't earn over £111 a week!! So if I earnt that in a week my husband couldn't claim job seekers?

No child tax credits until April 2013 as we have allready earnt approx £30,000 this tax year.

Well lets hope a miracle happens then! lol (or a job)

sleepless_saver

ljcook wrote: »

So it seems to me (obviously i'll check with the relevant agency's) we will only get council tax benefit, child benefit, & Job Seekers if we as a couple don't earn over £111 a week!! So if I earnt that in a week my husband couldn't claim job seekers?

No child tax credits until April 2013 as we have allready earnt approx £30,000 this tax year.

If he's paid enough national insurance contributions he will get contribution based JSA for 6 months. This is £71 per week assuming he's at least 25, and is unaffected by other income.

The £111 limit refers only to entitlement to income related JSA, not to council tax benefit or child benefit where different threshholds apply. You should get both of those.

Edited to add: just spotted that your OH is planning on being self employed. Obviously he can only get jobseekers allowance while he is actually jobseeking and available for work.

Torry_Quine

ljcook wrote: »

Thats crazy!! wev'e got a 200k mortgage to pay for :eek:

What would you do!!??

Please don't take this the wrong way but my husband was unemployed for 20 months until he got a job. After his six months contribution JSA we got nothing as we had savings and used some of them and managed fairly well. We have never lived on all our income and before you think he must have had a good wage, he's a care assistant. To me I couldn't relax knowing I had no money behind me.

My advice is that as soon as things improve start building up your savings.

Cookieraider_2

sleepless_saver wrote: »

If he's paid enough national insurance contributions he will get contribution based JSA for 6 months. This is £71 per week assuming he's at least 25, and is unaffected by other income.

The £111 limit refers only to entitlement to income related JSA, not to council tax benefit or child benefit where different threshholds apply. You should get both of those.

Edited to add: just spotted that your OH is planning on being self employed. Obviously he can only get jobseekers allowance while he is actually jobseeking and available for work.

He has applied for being self employed from Dec 3rd, in the hope he might get the odd small job (carpenter) can he still claim job seekers if he has no work for that week/month with maybe the odd job that might come up??

Can he claim for contribution & income based job seekers then?

He is in his thirties

sleepless_saver

ljcook wrote: »

He has applied for being self employed from Dec 3rd, in the hope he might get the odd small job (carpenter) can he still claim job seekers if he has no work for that week/month with maybe the odd job that might come up??

Can he claim for contribution & income based job seekers then?

He is in his thirties

Don't see why he can't claim for contribution based jobseekers. But as previous posts have pointed out the JSA plus your income will be more than the £111 threshhold for income related JSA. If he claims JSA of any kind he needs to be available for paid work as an employee (and he will need to actively look for it). He will also need to keep careful accounts and declare the self employed profit which I think is deducted from the JSA.

miduck

There seems to be some misunderstanding about eligibility for IB JSA. Because the OP has eligible housing costs, after thirteen weeks their applicable amount will be considerably higher than £111, it will actually be around £250 (assuming they are eligible for assistance on the whole £200,000).

OP, you need to apply for IB JSA now, explaining that you wish to do so in order to be eligible for help with mortgage interest in the future. If CB JSA + your income is higher than £111 you will receive no award, but when you get to thirteen weeks you can complete the SMI paperwork and your eligible mortgage interest will mean that you are entitled to assistance (the DWP will make up the difference between your household income and the eligible £250ish, although this money will go directly to your mortgage lender).

sleepless_saver

Thanks miduck, I had completely missed that.

princessdon

I did explain it (and also how it passports the tax Credits) but a lot depends on how much they excpect from Self employment, if they are expecting regular work then how will this affect income based JSA?