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Student loan/grant if own part share in house?
My hubby is considering gifting his share of the house where his son lives (bought with his ex-wife) but it means his son will own 23% of a property.
He will soon be going to Uni and at the moment qualifies for maximum grant as mother is on very low income.
Would this action affect any part of his grant, loan or repayments?
Any advice greatly received thanks
He will soon be going to Uni and at the moment qualifies for maximum grant as mother is on very low income.
Would this action affect any part of his grant, loan or repayments?
Any advice greatly received thanks
0
Comments
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The form asks for the just "taxable unearned income." The receipt of a 23% share might come under that? Net worth is never asked for at any point of the student finance system bizarrely so otherwise its not a problem.
Isn't there the risks he's pressured into basically gifting his share to his mother?0 -
Thanks for the advice. There is a risk yes but wanted to know the facts beforehand as it might be the least-worst option.0
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