Universal credit and owning a home

ajbisgr8

I recently separated from my partner and we jointly own a mortgaged property, I am prepared to essentially gift my share of the property to him so he can continue to live there but there is a strong possibility he will struggle to borrow enough to obtain a mortgage in his sole name. Im considering staying on the mortgage therefore, but worried that if I do so it means this will be taken into account when calculating my entitlement to universal credit, which I will need in order to rent a suitable place for myself and my kids. Can anyone advise me if this will be taken into account or not? If so is there any way I can prove that the equity in the property is his?

poppy12345

ajbisgr8 wrote: »

I recently separated from my partner and we jointly own a mortgaged property, I am prepared to essentially gift my share of the property to him so he can continue to live there but there is a strong possibility he will struggle to borrow enough to obtain a mortgage in his sole name. Im considering staying on the mortgage therefore, but worried that if I do so it means this will be taken into account when calculating my entitlement to universal credit, which I will need in order to rent a suitable place for myself and my kids. Can anyone advise me if this will be taken into account or not? If so is there any way I can prove that the equity in the property is his?

Why is the equity in the property his, when you clearly state you jointly own it? Gifting the property to your ex will most likely be seen as deprivation of capital.

nannytone_2

your mortgage provider would also be unlikely to let you remove your name as well as the deprivation issues.

why are you and the kids moving out when it would make sense for them to remain in their home?

ajbisgr8

Ok so thats out then. My ex has refused point blank to leave, we do not gwtet along and I am the main caregiver...he is not in a position to be home when he needs to be and I was looking at a way of avoiding having to sell when the mortgage payments are so much cheaper than rent