Sold house what can I do?

guest1943

I sold my home to pay off debts.
The property I was buying to move into has fallen through
I can't do anything as it was a long stop completion so I soon won't have anywhere to live.
I receive PIP and ESA and the sum of money will put me over 16k cutoff for savings.
I know I have to inform the dwp.
 Am I allowed to use part pf the capital to rent while I find a new home? because I can't see what else I can do?
I have been looking but finding it difficult to find a place.
How long do I have to find a property after completion?
I have heard they will extend the time given to find another home but I don't know how long they will extend it to.
The whole thing has become overwhelming 
my ptsd clinical depression anxiety are chronic and the whole thing is close to tipping me over the edge.
Thank you for your time.

TELLIT01

Money from the sale of a property can be disregarded if it is to be used to purchase another property.  You will have to use some of the money to pay rent.

peteuk

I believe the disregard is for 6 months, however this can be extended if required, but you will need evidence eg a house purchase with an exchange/completion date to request the extension. 

GrumpyDil

Have you actually sold your current property and moved out as I'm confused as to why you would do that without making sure the property you were buying was going ahead?
 

Muttleythefrog

GrumpyDil said:

Have you actually sold your current property and moved out as I'm confused as to why you would do that without making sure the property you were buying was going ahead?
 

Sounds like they had a long stop legal agreement to sell by a certain date which is coming up soon.

Hopefully someone can confirm the rules in relation to ESA... for UC which may be similar you can get proceeds of sale discounted from savings calculation for up to 6 months if intending to use them to buy another property to live in. You can get that 6 months extended also if good reason like a sale falling through or purchase uncompleted. 

Newcad

The OP hasn't said if the ESA is Income Related.ESA. (Or CB ESA with IR premiums).

If it's entirely Contributions Based (or New Style) ESA then it isn't affected by capital/savings.

PIP is never affected by capital/savings so there is no issue there.

guest1943 said:
I receive PIP and ESA ......

guest1943 - Can you tell us just which type of ESA you are getting?
If you are not sure then if you tell us when you first claimed ESA and how much ESA currently pays you we can usually work it out from that.

guest1943

Its income related and I am in a support group.

So am I allowed to use part of the capital to rent somewhere while I find another place to live
There was a comment saying I could.
Is there anyone I can go an see and speak to for advice
Thank you 

guest1943

Newcad said:

The OP hasn't said if the ESA is Income Related.ESA. (Or CB ESA with IR premiums).

If it's entirely Contributions Based (or New Style) ESA then it isn't affected by capital/savings.

PIP is never affected by capital/savings so there is no issue there.

guest1943 said:
I receive PIP and ESA ......

guest1943 - Can you tell us just which type of ESA you are getting?
If you are not sure then if you tell us when you first claimed ESA and how much ESA currently pays you we can usually work it out from that.

NEWCAD
I receive income based esa.Because I have health issues.I was put in a support group as I am unable to work.
There was a comment left by TELLIT01 that I can use the money to pay rent so I am hoping this is correct??
I hope that is the information you needed.
If you need more please let know.
Thank you for your help

Alice_Holt

Yes, you can use money from the house sale to pay rent.

Newcad

Yes you can use the money to pay rent, (and to live on), it looks like you are going to have to.

The rest of the money may be an issue though, or it may not be.

Normally having monies in the bank or elsewhere of above £16k would disqualify you from IR ESA - but as said this can be disregarded for six months (possibly longer) if the money is from the sale of your home and you intend to use it to buy a new home.
That disregard rule is there for people who find themselves in 'temporarily between homes' situations like you have.

You need to be upfront with ESA and tell them what is happening, they will most likely want to see some evidence that you are actively taking steps to find and purchase a new home.
It will then be up to an ESA Decision Maker to decide if the monies can be disregarded or not.

Whilst we may all consider that in your circumstances it should be disregarded in the end we are not the Decision Maker, who will decide on what you tell and show them.

Again this does not affect your PIP at all. PIP will continue to be paid regardless of how much money you have in the bank.

HillStreetBlues

OP if your monies from house sale are disregarded have you considered moving to UC and claim the rent element?