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Universal Credit 16k+ savings transistional protection?
Comments
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DevilsAdvocate1 wrote: »If you have a mortgage, could you start overpaying your mortgage rather than saving more? This is what we do. We save more in interest that we were receiving on savings.
Would it be possible to have a mortgage and manage to pay it on £15,000 a year with 2 adults and 2 children? Unless its a very small one.
OP yes miffed I'm sure. You will need a pension. 16k towards one is not that much and ISA's don't give very good interest rates.Think of all the beauty still left around you and be happy - Anne Frank :A0 -
To be honest I don't know many that don't cream the system whether they work or not.
The system is there to be creamed - there is nothing illegal actually in maximising the income they work for or the benefits that they are entitled to claim.
Don't you cream what you can get out of the system using legal methods, be it DWP benefits. HMRC benefits, Social Services Benefits or even your local council?
Unfortunately with the benefit system you do have to know how each benefit may inter react with another, and which benefits open the best doors. According to some of your posts in the past you are doing quite nicely out of the various claims you have made.
and certainly not behind the door when there is something on offer as an extra.
you really are an odious little manIts not that we have more patience as we grow older, its just that we're too tired to care about all the pointless drama
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And they talk about benefit claimants playing the system!!i think youre the last person that should be commenting on people creaming the benefits systemcattermole wrote: »Nanny count to 100
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Probably because of posts like this...Why - it's the truth.Hi, My wife is 69 and receives her state pension, and I am due mine in June when I attain 65. She receives max Attendance Allowance and I receive max mobility and mid care of DLA. We both claim Carers Allowance for each other.
We receive a top up of Guaranteed Pension credit of £116.32 a week which takes our combined income from all sources up to approx. £588 a week excluding Council tax Benefit.
What level of mortgage do you think we could get based on that income? And at what rate of interest is it likely to be?
We are looking at a LTV of about 40% based on a purchase price of £400,000 (looking to borrow £160,000). We have equity in our current home (£100,000) and a cash deposit of an additional £140,000.
Good credit record, with about £5000 outstanding over 2 credit cards that can be paid off if need be. We currently save approx. £400 a month out of our income which we give to our daughters'. This could be stopped making additional monies available.0 -
cattermole wrote: »As already pointed out they will need to work more hours to qualify for WTC with UC.
Even with an income of £26,000 and saving 16,000, that leaves 10,000 to live on, I find it a bit hard to believe to be honest with two young children to support!!. But if they can do that then good luck to them!!
They didn't say they saved £16k a year - they said they had savings of over £16k. On an income of £26k you could afford to save a couple of grand a year and in eight years you would be over the savings limit.0 -
Probably because of posts like this...
The scenarios change daily - he is either getting mega bucks from the state (easy innit..... :rotfl:), or he's not getting the benefits he has applied for, despite being more disabled than anyone else on here......:think:
He must be confused with all these virtual lives......:rotfl:
Lin You can tell a lot about a woman by her hands..........for instance, if they are placed around your throat, she's probably slightly upset.0 -
SkyeKnight wrote: »They didn't say they saved £16k a year - they said they had savings of over £16k. On an income of £26k you could afford to save a couple of grand a year and in eight years you would be over the savings limit.
I know!!
Sorry. It was in response to Tinkletoes post and he was being a bit confusing, it was late, I corrected it when I posted to the OP.
Anyway if they have saved £2000 a year well done to them but it will have to go into a pension in the future. I still find it hard to see how they managed to do it with a mortgage and/or rent.Think of all the beauty still left around you and be happy - Anne Frank :A0 -
you really are an odious little man
Why are you replying to a post that was clearly addressed to someone else?
Or is it that you feel that you have the right to answer for everybody, which seems to be the case where I am involved.
As for making these silly little personal comments about me, you should remember that this site does not allow it. Maybe if you were more respectful of others, the same respect would be shown to you?
I don't have the time or the inclination to make personal remarks about anybody, my mind simply doesn't function at that lower level.0 -
Love the way that someone in their 60s on benefits is fantasising about getting a mortgage! I think Andy's main experience of property ownership is repossession.
errr, you CAN obtain a mortgage at ANY age. You just need to know who to ask and where to go.
The idea of a mortgage is that the debt goes with the house when we are gone. The capital saved, is ours to spend.
Repossession? Don't be silly. We have never sold a property without making a substantial profit!
First house 1981 £18500, sold 1989 £54000
Second house 1989 £100000 sold 1999 £172000
Third house 1999 £87000 sold 2000 £192000
Fourth house 2000 £140000 sold 2001 £195000
Fifth house 2001 £142000 currently valued at £210,000 - No mortgage debt
Sixth house - still undecided.
Seeing that we have made £335,500 gross profit on property deals over the past 33 years, I can't understand where the comment of having had a repossession has come from.
As for still being called Andy, fine, call me it or John or Bill as none are my real names.0
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