Deprivation of capital when selling property in universal credit application

calcotti

It depends whether or not DWP accept what you have done. There is no definite answer - a Decision Maker will decide.

underthesea

We want to do the right thing but we also need to learn the impact now. I understand the decision maker will decide but i'd like to know how they form these decisions and what is constituted as acceptable or not. I hate to say this but it looks like it's going for it and praying there is no homelessness which is a dire situation.

sheramber

It is not clear from your posts.Who will be staying on the house?

You and child or partner and child?

Where will other parent be staying?

swingaloo

I think you are misunderstanding the question posters were asking regarding equity in the house.

Its not about equity for your ex, they are asking how much equity there is in the property.

underthesea

Equity maybe 150k. Not sure how this relates if my partner who will be applying for UC won't have any equity.

My partner will have the child and not have a home
I will have the home.

Need to get an insight to what the UC decision-maker will decide.

pmlindyloo

I am going to play devil's advocate here.

Correct me if I am wrong but these are the facts :

1. Your partner is currently on the mortgage.
2. Your partner is on the deeds (tenants in common)
3. There is £150K equity in the property.
4. You intend to take your partner off the mortgage and off the deeds. She has agreed to this.
5. Your ex partner and child intend to claim Universal Credit. They will both move to a rented property. She will have no savings.
6. You intend to move the deeds into your sole name and have the mortgage solely in your name. You will continue to live in the house.
7. All this will be done before your ex partner and child claim Universal Credit.

Please confirm the above are all correct.

underthesea

I put in more than 150k into the property whilst she did not. Some of that is money borrowed from family that I need to repay. I'm not sure of options to help other than UC. What other options are there for them?