Inheritance not enough

Adereterial

£60k is enough for a deposit, even in the South East.

It would be a 15-20% deposit on a typical 3 bedroom semi-detached in a decent area of High Wycombe, for example, which is an easy and quick commute into London, if that’s where you’re going.

Semple

Mojisola wrote: »

You can't decline an inheritance and then continue to claim means tested benefits and you can't receive one, give it away and then continue with means tested benefits.

What happens to those that just blow it on rubbish? Are they then no longer eligible to claim means tested benefit? I suppose in the short term, no because of previous assets, but certainly not the case long term?

You are pretty much stuck between a rock and a hard place, and as others have said, your only real options are either:
- move to a cheaper area
- have your other half find a part time job

I don't know where in the south east that you live, but even if you're on a minimum wage FT, a mortgage + that 60k deposit would give you about 130k.

Searching for 2 bed flats within 40 miles of maidstone shows up 332 current properties, and even some nice shared ownership flats.

If you're turning your nose up at a flat because too small etc, then unfortunately beggars can't be choosers. If your other half increases her income even slightly, the overall amount you'll have to play with also increases.

Doozergirl

Peter_Williams wrote: »

Well I can't imagine a scenario where I would start telling an elderly relative how to leave me money.
If that means I'm a troll, then I'm a troll.

It's your being rude that makes you look like a troll.

First rule of MSE is not to be rude. The OP has a job and a small child. Presumably UC has replaced tax credits, not jobseekers in this instance.

We're here to encourage them to see how they can grasp for the security of home ownership and let them know there is life outside of London, not to get judgemental.

I'm going to report at least one of your posts shortly and it isn't something I do, really, so if you don't want your posting privileges removed, don't be rude.

parkrunner

Benefits are for people in need, with that inheritance you won't be in need.

Mojisola

Semple wrote: »

What happens to those that just blow it on rubbish? Are they then no longer eligible to claim means tested benefit?

They can be assessed as if they still have the money.

Peter_Williams

Semple wrote: »

What happens to those that just blow it on rubbish? Are they then no longer eligible to claim means tested benefit? I suppose in the short term, no because of previous assets, but certainly not the case long term?

If you're turning your nose up at a flat because too small etc, then unfortunately beggars can't be choosers. If your other half increases her income even slightly, the overall amount you'll have to play with also increases.

It's a complicated issue.
I was surprised to learn that even paying off debt can be considered as ''deprivation of assets''.
That just shows the acceptance of debt culture the govt is pushing (probably due to their close relationship to the banks).

Peter_Williams

Doozergirl wrote: »

It's your being rude that makes you look like a troll.

First rule of MSE is not to be rude. The OP has a job and a small child. Presumably UC has replaced tax credits, not jobseekers in this instance.

We're here to encourage them to see how they can grasp for the security of home ownership and let them know there is life outside of London, not to get judgemental.

I'm going to report at least one of your posts shortly and it isn't something I do, really, so if you don't want your posting privileges removed, don't be rude.

Well that's a load of nonsense, because my reply was nothing to do with the OP with the benefits and inheritance.
It was a reply to a different post about people TELLING their elderly relatives what to put in their will.
If that's the kind of attitude you support, then that's up to you.

And I never mentioned Jobseekers or UC - so more nonsense from you.

SnooksNJ

need_an_answer wrote: »

That's your choice and if you are looking to buy property you are not shackled to the SE there are plenty of places even within a reasonable commute that you could probably but something with a £60 k deposit.


I guess it all depends on what you want to buy but for a lot of people they would happily trade places with you and your inheritance and be very grateful

this house looks fun.
https://www.rightmove.co.uk/property-for-sale/property-83151119.html

sst1234

You are not helping yourself if you came here for advice. £60k inheritance does not make you worse off. What you are asking is how you can keep taking from the taxpayer when you clearly don’t need it. If you must ask a question such as that and then snap back about the privelege of living in the southeast, then you will only get the answers you got.
Choices: move away from the southeast so the £60k can be used as a deposit for a house, ask partner to get a job (admittedly difficult with young child), stop claiming benefits, forego the inheritance.

MysteryMan00

Hark at this guy.


Hasn't pulled his finger out to provide properly for his own family - like buying the food his child needs from the fruits of his labours.


Then he has the gaul to moan about inheriting £60k. Apparently it isn't enough for a deposit. Not sure what size of mansion he was hoping to get as it should be plenty for a decent house.


My advice would be to stop moaning and buck your ideas up. Provide for your family like a man should. The £60k should give you a good bump along this road - rather than be a convenient way of allowing you to continue to be idle and ineffective.