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Selling collection to buy a house while on ESA
debs3759
Posts: 15 Forumite
If I sell part of a large collection in order to buy a house while on ESA, does that count as savings? Will I lose my benefits until I buy?
If it would affect my benefits, will it be different if the buyer buys the house and exchanges it for the collection?
If it would affect my benefits, will it be different if the buyer buys the house and exchanges it for the collection?
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Comments
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When claiming ESA you are asked:
Do you have any other savings, investments or income?
The 'collectables' are (I assume) an investment, so selling them should make no difference to your benefits as they should already have been taken into account (unless you are fraudulently claiming ESA)..0 -
I have collected things most of my life. It's a hobby, not an investment. I make use of things I collect. I'm approaching retirement and want to get away from towns
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For years and years it's a hobby but now when you want to sell its an investment?I have collected things most of my life. It's a hobby, not an investment. I make use of things I collect. I'm approaching retirement and want to get away from towns
I think you possibly need to tell the benefit office first0 -
This may sound harsh, but if you have a collection that is large enough and valuable enough that just selling part of it would fund a house purchase, why wouldn't you sell the lot and put yourself in a position where you don't need to be on benefits?No longer a spouse, or trailing, but MSE won't allow me to change my username...0
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What I would keep is not worth as much. I may have over estimated the value, but if I get to buy a 40K house up north it would save a lot more in housing benefit. I suspect some of you think I am talking way more than that. I'm merely trying to find out whether it is a legal option.0
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Thing is you claimed a benefit when you didn't need toWhat I would keep is not worth as much. I may have over estimated the value, but if I get to buy a 40K house up north it would save a lot more in housing benefit. I suspect some of you think I am talking way more than that. I'm merely trying to find out whether it is a legal option.
That is not the way a benefit should be used .
Benefits are a safety net when every avenue has been exhausted and not a lifestyle choice0 -
I don't see buying thing over a few decades then considering the possibility that they may be worth something to be a crime. You are allowed to get a mortgage while on benefits, so why not sell items for the same purpose? I'm not here to be criticised, I am here to find out where I stand if I sell possessions to buy one of the cheapest habitable houses in the UK.
Also, suggesting that I made a lifestyle choice to be on benefits when you know nothing about me shows very poor intellect. I am disabled and mostly housebound. I can't even walk to the shop 50 metres away! Why should I not consider buying a house and saving the government a large amount in housing benefit? Does being disabled mean I have no rights?
Selling everything to come off benefits would cost the government much more in the long run than if I find a legal way to buy a house and get off housing benefit.
Do you guys have possessions bought for your own use over a lifetime? Do you consider them an investment? Maybe you read lots of books and never throw them away or give them away. Would you count that as an investment>0 -
Depending on how you choose to sell the stuff, bear in mind that your solicitor will want to check the source of your funds for anti-money-laundering purposes. That's going to be tricky if for example you've paid the proceeds into your bank in cash.0
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Right first of all find out what they are worth to sell, some things are worth much less than you think.
When you have that figure you will know where you stand.
If they are many small items work out how you are going to sell them, are they items that could be sold at auction?
If there is a resale value of £40.000 then you need to consider your position regarding claiming certain benefits.If you go down to the woods today you better not go alone.0
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