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Will it be deprivation of capital?

Stetho1006
Posts: 1 Newbie
My marriage is not in the best place and hasn't been for a while and it's getting to the point it may be close to the end for it.
I work but part time around school runs etc so not the highest income. I will need to think about housing for me and my two children. The issue is, I have around 30k from an inheritance in savings. In an ideal world this would have been a deposit on a future house but I guess life doesnt always work out! My wages would nowhere near cover private renting on top of actually living (the area I live in I'd be looking at around 1200 at least a month) so in reality I would be using my savingss to pay for the rent in advance and then ongoing rent.
I know you cannot claim universal credit or housing benefit with savings over 16k but i want to know if after the period of time where my funds have been used to cover rent and gone below 16k, would I then be eligible? Or would spending it on rent (where I have no other option as wages aren't high enough) Be classed as deprivation of capital?
I am assuming I would need to private rent as I am anot sure if that amount of cash savings would make me ineligible for a council property.
I work but part time around school runs etc so not the highest income. I will need to think about housing for me and my two children. The issue is, I have around 30k from an inheritance in savings. In an ideal world this would have been a deposit on a future house but I guess life doesnt always work out! My wages would nowhere near cover private renting on top of actually living (the area I live in I'd be looking at around 1200 at least a month) so in reality I would be using my savingss to pay for the rent in advance and then ongoing rent.
I know you cannot claim universal credit or housing benefit with savings over 16k but i want to know if after the period of time where my funds have been used to cover rent and gone below 16k, would I then be eligible? Or would spending it on rent (where I have no other option as wages aren't high enough) Be classed as deprivation of capital?
I am assuming I would need to private rent as I am anot sure if that amount of cash savings would make me ineligible for a council property.
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Comments
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Spending on rent and other living expenses will not be Deprivation of Capital.
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Spending money on rent would not be a deprivation of capital.1
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Wouldn't the £30K be part of the marital assets in any divorce, so that the final figure may be lower ? 🤔0
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