We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that dates on the Forum are not currently showing correctly. Please bear with us while we get this fixed, and see Site feedback for updates.
Universal Credit - Home Owner

tzcdg1
Posts: 3 Newbie
Hi
Was after some advice, currently live with my parents and I receive universal credit.
My parents are looking to buy me my own place and it would be in my name, would I be likely to lose my benefit as a home owner??
Thanks
Was after some advice, currently live with my parents and I receive universal credit.
My parents are looking to buy me my own place and it would be in my name, would I be likely to lose my benefit as a home owner??
Thanks
0
Comments
-
You woulldn't get anything towards housing but the rest should be ok
BUT
can you afford to repair and maintain a house? I put at least £100 a month away in anticipation of things breaking and major repairs like windows.2021 GC £1365.71/ £24000 -
Another point is that, if your parents need residential or means tested homecare ,in the near future, they will be assessed for help, assuming that they still have the money spent on your home. Therefore, if they don't have sufficient other funds will not get the care required, unless the house is sold and the money recovered, as the government will not pay if assets (real or assumed) have too high a value.0
-
Another point is that, if your parents need residential or means tested homecare ,in the near future, they will be assessed for help, assuming that they still have the money spent on your home. Therefore, if they don't have sufficient other funds will not get the care required, unless the house is sold and the money recovered, as the government will not pay if assets (real or assumed) have too high a value.
If the parents did that today in good health, then, a couple of years down the line they started to decline and needed care afterwards, there would be a good case for saying that they didn't know they would need care at all, at the point they made the house purchase. No guarantees either way, but it would be open for discussion and argument.0 -
Hi
Was after some advice, currently live with my parents and I receive universal credit.
My parents are looking to buy me my own place and it would be in my name, would I be likely to lose my benefit as a home owner??
Thanks0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 348.3K Banking & Borrowing
- 252.1K Reduce Debt & Boost Income
- 452.4K Spending & Discounts
- 240.9K Work, Benefits & Business
- 617.2K Mortgages, Homes & Bills
- 175.7K Life & Family
- 254.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards