new house

lesley01326

I sold my house and inherited my mum's house. I have bought a new house with the proceeds of both houses as I have moved from an area with lower prices to Bucks where prices are high. I am 77 and disabled, I wanted to be nearer my family. Will the DWP query this and make me ineligible for pension credit please?

whizzywoo

lesley01326 said:

I sold my house and inherited my mum's house. I have bought a new house with the proceeds of both houses as I have moved from an area with lower prices to Bucks where prices are high. I am 77 and disabled, I wanted to be nearer my family. Will the DWP query this and make me ineligible for pension credit please?

Quite possibly they will query it.

How much in total savings do you have now? 

The proceeds from the sale of the house you lived in can be disregarded for 6 months, sometimes longer.

However the proceeds from the sale of the inherited house are not disregarded.  Did the money from your Mum's house sit in your bank account for long before it was used to buy your new home?

You should have informed the Pension Credit department what was happening so that a Decision Maker can decide.

If the proceeds of your Mum's house added to existing capital was over £10,000 at any time then the Pension Credit is reduced on a sliding scale.  It would be reduced by £1 per week for every £500 or part of £500 over the £10,000 threshold.  

NedS

Did you deliberately sell both houses and purchase a larger more expensive house for the purpose of claiming means tested benefits? If so, then it may be viewed as deprivation of capital. If not, then you have nothing to worry about. DWP may query it to determine which it is.

calcotti

NedS said:

Did you deliberately sell both houses and purchase a larger more expensive house for the purpose of claiming means tested benefits? If so, then it may be viewed as deprivation of capital. If not, then you have nothing to worry about. DWP may query it to determine which it is.

Sounds as if the motivation was to live closer to family.

MalMonroe

lesley01326 said:

I sold my house and inherited my mum's house. I have bought a new house with the proceeds of both houses as I have moved from an area with lower prices to Bucks where prices are high. I am 77 and disabled, I wanted to be nearer my family. Will the DWP query this and make me ineligible for pension credit please?

Hi, whenever you have a change of circumstances you are required to report it. Especially when moving home.

See info in the following link (it's the Pension Service you need to contact for Pension Credit) -

https://www.gov.uk/pension-credit/change-of-circumstances

(Pension Service helpline: 0800 731 0469)

Just phone them and let them know of all the changes you have made.

Then they will advise you what you are or are not entitled to.