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Universal Credit - PEP Mortgage 1998 - Asset?
Capt71
Posts: 5 Forumite
DWP are saying that due to being made aware of our PEP/ISA Flexible Mortgage Plan with Legal & General (taken out in 1998 and due to complete 2023 in conjunction with our Interest Only Mortgage) that the value of the plan is classed by them as an asset (Aprox 30k).
Furthermore they say that the last 4 years of my Universal Credit (with Disability Element) must be paid back.
They also advise that if next year, when the plan matures, I use the Mortgage Plan to pay off the Mortgage with Santander (It's sole purpose for 25 years) then they will class that as deprivation of assets leaving us in the impossible situation of being unable to claim Universal Credit whilst allegedly owing DWP approx 30k!!!
HELP! (please)
Furthermore they say that the last 4 years of my Universal Credit (with Disability Element) must be paid back.
They also advise that if next year, when the plan matures, I use the Mortgage Plan to pay off the Mortgage with Santander (It's sole purpose for 25 years) then they will class that as deprivation of assets leaving us in the impossible situation of being unable to claim Universal Credit whilst allegedly owing DWP approx 30k!!!
HELP! (please)
0
Comments
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This might be better in the Benefits board.1
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Done...👍👍Grumpy_chap said:This might be better in the Benefits board.1
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