Universal Credit and Landlords with Buy-to-Let Property

OhWow

Alice_Holt wrote: »

If as a landlord with £270k of properties which are not delivering a sufficient return, and now feeling the need to attempt a means-tested benefits claim, rather suggests to me that you failed to put much research / planning into your BTL venture.

It makes me wonder how some of these are going to manage to service all their mortgage debts when the interest rate rises and keeps going up!

huckster

You say

"I cannot get the old-style Job Seekers Allowance (Unemployment Benefit), even though I am out of work and very actively looking for work."

Seems to me that with a family including 4 children, that you have a few choices, but you may need advice to consider these.

You have rental income and your wife works, so you have money for basics. If your expenses are more than your income, then you need to look at what you can cancel or change from your spending budget.

Why not sign up to a few recruitment agencies offering permanent and temporary work ? You need to do this, while you are still fresh meat to the employment market. If you just apply for jobs hoping for an ideal job to be offered, then you might find that this does not help you. If you can get temporary part-time work to help fill the gap, then you can still apply for other jobs, attend interviews.

Singleton1

During the financial year 19-20 I lost money on my BTL properties. There is no equity in them. I used to claim child tax credits as I made an annual loss. Can I claim UC? Some months rent goes in and the outgoings go out in another month period? Therefore will I lose UC for the months that income is above outgoings if overall throughout the 12 months it could be negative again?

poppy12345

Singleton1 said:

During the financial year 19-20 I lost money on my BTL properties. There is no equity in them. I used to claim child tax credits as I made an annual loss. Can I claim UC? Some months rent goes in and the outgoings go out in another month period? Therefore will I lose UC for the months that income is above outgoings if overall throughout the 12 months it could be negative again?

You need to start your own thread with your question. You've posted on the end of a thread that's 14 months old. Posting on other peoples thread causes a lot of confusion because eople will read the first post and reply to that.