Capital disregard

jaxa

I wonder if anyone can help me out here.:D

I am a recently divorced pensioner and have a 16 yr old living with me. I used to get full council tax relief due to my low income but we have had to sell our home and I now have some equity capital which I want to use to fund a shared ownership property.
Would I be able to ask my local authority for a capital disregard for my equity?

GirlFromMars_2

There is a 26 week disregard for money that is being used to purchase a new property. Where are you at in the house buying process?

Different Local Authorities/Decision Makers will disregard the money at different points. So for one LA you may just have to say you are looking to buy, but for another you may need to be actively purchasing a property & have engaged a solicitor etc to act on your behalf.

jaxa

GirlFromMars wrote: »

There is a 26 week disregard for money that is being used to purchase a new property. Where are you at in the house buying process?

Different Local Authorities/Decision Makers will disregard the money at different points. So for one LA you may just have to say you are looking to buy, but for another you may need to be actively purchasing a property & have engaged a solicitor etc to act on your behalf.

I only got the equity last week and at the moment there are no suitable /affordable properties in my area. I'm on all the local association lists and the local authority waiting list.

GirlFromMars_2

jaxa wrote: »

I only got the equity last week and at the moment there are no suitable /affordable properties in my area. I'm on all the local association lists and the local authority waiting list.

You will need to write to your Local Authority to explain your situation, and ask whether this capital will be disregarded or not given your intentions & where you are at in the process. Good luck finding a home!