mum buying me flat

Life__Goes__On

Do you know cost of the flat  and the discount you would get?

Spoonie_Turtle

powerspowers said:

If your UC covers the rent then there is no immediate benefit ie your rent will stop but your UC will go down. Worth doing a benefit check based on being a homeowner as you are working and will have a work allowance due to the LCWRA- it has different limits depending on housing costs. 

Actually that's a good point, I'd forgotten that - the work allowance would increase from £344 to £573

TELLIT01

There have been a couple of similar posts recently, and the general advice has been to think very carefully before relinquishing the security of a local authority or HA property if you are not in a financial position to be able cover the additional costs which come with owning property.

I do understand the attraction of owning your own place, but it isn't always the best thing to do.

JohnnyB70

powerspowers said:

Wow this is a really nice gesture of your mum but I’m not sure it’s the best thing to do. 

If your UC covers the rent then there is no immediate benefit ie your rent will stop but your UC will go down.

There’s a huge benefit, the OP will own their own home. Maybe you don’t remember what it’s like to rent, but even in a secure tenancy it’s still not your own home. The difference is huge in terms of how it can feel.

powerspowers

JohnnyB70 said:

powerspowers said:

Wow this is a really nice gesture of your mum but I’m not sure it’s the best thing to do. 

If your UC covers the rent then there is no immediate benefit ie your rent will stop but your UC will go down.

There’s a huge benefit, the OP will own their own home. Maybe you don’t remember what it’s like to rent, but even in a secure tenancy it’s still not your own home. The difference is huge in terms of how it can feel.

Yes definitely and I can remember being on benefits and how being reliant on the state can affect your self esteem and the fear of brown envelopes changing everything- I can totally see how owning the property can be a boost. BUT it can also be a millstone round one’s neck. I’ve come across people who own their own property and are on very low incomes who are living in really poor, very stressful housing conditions and there isn't a lot of help out there. 

For the original poster, sorry to put a downer on things, it might be completely the right option for you and all the best with whatever you decide next 

powerspowers

Spoonie_Turtle said:

powerspowers said:

If your UC covers the rent then there is no immediate benefit ie your rent will stop but your UC will go down. Worth doing a benefit check based on being a homeowner as you are working and will have a work allowance due to the LCWRA- it has different limits depending on housing costs. 

Actually that's a good point, I'd forgotten that - the work allowance would increase from £344 to £573

OP the work allowance is how much of your wage you keep before it starts to taper off. If you stopped needing help with housing costs, you would keep more of your wage before it starts being deducted from your UC. 

I’ve just tied myself in a knot with this one (UC going down as well as up!) so really do think doing a benefit check for your circumstances is a good place to start