We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
We're aware that some users are currently experiencing slow loading times and errors on the Forum. Our tech team is working to resolve the issue. Thanks for your patience.
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.
0
Comments
-
Spending on rent and other living expenses will not be Deprivation of Capital.
1 -
Spending money on rent would not be a deprivation of capital.1
-
Wouldn't the £30K be part of the marital assets in any divorce, so that the final figure may be lower ? 🤔0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards