Asset rich cash poor

Mojisola

Puddylove wrote: »

I'm sure we can all sympathise with someone with a severe spinal injury, and no family or partner to support them.

I suspect that the point about ESA may be correct - best to check regarding benefits

It would be worth looking at PIP because that isn't means tested but, OP, I don't see how you've been able to get ESA - have you told them about the houses you own?

Lily-Rose_3

Mojisola wrote: »

It would be worth looking at PIP because that isn't means tested but, OP, I don't see how you've been able to get ESA - have you told them about the houses you own?

I doubt it, because the OP wouldn't get ESA if the DWP knew about the three houses they own!

sleepless_saver

Mojisola wrote: »

It would be worth looking at PIP because that isn't means tested but, OP, I don't see how you've been able to get ESA - have you told them about the houses you own?

Maybe it's contribution based ESA which would not be affected by the OP's assets?

sammyjammy

sleepless_saver wrote: »

Maybe it's contribution based ESA which would not be affected by the OP's assets?

If its ESA contributions then the OP would be entitled, if its Income related then the only way the OP would get ESA at a rate of £400 per mnoth with two properties they don't own is to commit fraud.

Stevie_Palimo

Lily-Rose wrote: »

PMSL, no it isn't a jealous rant! He is absolutely correct. What a nerve, pleading poverty when you own three properties.

I find it incomprehensible that someone would defend the OP regarding this. And we do know a lot about their circumstances, because they told us LOL. Their circumstances are that THEY OWN THREE PROPERTIES. And Peter is correct that the OP should probably not be claiming ESA if they own three properties.

You seem incredibly defensive of the OP. Do you know them?

No I do not know them and also how do you know the value of a run down property that needs work :-


A £7000- house here, http://www.dailymail.co.uk/news/article-2598965/Is-Britains-cheapest-house-Two-bedroom-Victorian-terrace-comes-piles-rubbish-broken-furniture-walls-damaged-FIRE-mark-just-7-000.html


A £20.000 flat here, http://www.zoopla.co.uk/for-sale/details/34843083?search_identifier=5acf3bfa2e14033dc52394831808bf86#bvSIAQ05TMybv3S5.97


With this in mind they may only own 3 properties that could amount to a £100.000 in total against many peoples £150.000 houses, This is why I stood up for them as people on here are far too quick to judge others.


It is a site for all to post and when people on here put others down it sets a trend for others to jump on the band wagon and start on a new poster.


As said previously if you have nothing nice to say then say nothing at all, It is a simple saying but better that you take note and act on accordingly.

Tangerina

I can't believe how mean people are being to the OP.

You can get contribution based ESA for up to a year if enough NI contributions have been paid through working and this is NOT means tested.

Where I live, you can buy a run down property for around £15,000 and one that had been renovated for as little as £45,000.

The OP is asking for Help. They have stated that they are asset rich, but cash poor, ie don't have cash flow.

The person has a spinal injury with no living relatives, and by the sounds of it didn't plan the injury and being in hospital !!

Mojisola

Lilsmum wrote: »

I am 45 years old and own 3 properties outright.
I currently am unable to work as a result of a severe spinal injury and am in receipt of ESA which is £400.

Tangerina wrote: »

I can't believe how mean people are being to the OP.

You can get contribution based ESA for up to a year if enough NI contributions have been paid through working and this is NOT means tested.

Contribution based ESA is £72.40 a week while the means tested rate is £101.15 or £108.15. £400 sounds like the means tested rate.

If the OP is claiming the means tested rate, there are going to problems ahead with the DWP which will make the current situation much worse.

It's awful not to have support in such a difficult time - perhaps https://www.spinal.co.uk/ could help? Were there any social workers attached to the hospital spinal unit you could contact? Even if you're not a member of any local churches, it could be worth asking for help.

Tangerina

Hi Mojisola

I believe the £72.40 rate is during the 13 week assessment period, and after that it goes up to £101.15 or £108.15 depending on the group the person has been put in, this rate applies to contributory ESA as well.

ysammy8

First thing to do is not panic, how short of cash are you? How long can you survive without any income?

If this was me.

i would not sell anything!!!!!!!!!!!

- Try to get small loan unsecured if possible if not secured or use credit card if around to get place in useable/rentable condition.
- Use cash/credit to get houses repaired to a satisfactory condition
- Immediately rent both properties when ready - self furnished cheaper than market value to get renters in.

also to note you have 3 so why don't you rent the one you live in straight away????

Do you have jewellery or something that can tide you over - you could sell this for cold hard cash?

What kind of expenses do you have that nearly 2k a month won't cover????????

pvt

One thing to be wary of is Capital Gains tax. You haven't indicated how you come to own the two properties that you don't live in, but if you sell them for a lot more than you acquired them for then you may have some Capital Gains tax liability.

You've given no indication of the approximate values of these houses, which you must have some idea of, so it's difficult to offer meaningful help beyond this.