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universal credit - housing
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Rog4632
Posts: 39 Forumite

Hi, I am unemployed(no bens rec), Im renting a house currently. my question is can I get Housing help.
My current situation is - savings about 8k, rent out a home(about £275pm prof). this house has about a 50/50 split equity,mortgage, house value 80k.
Thanks
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Comments
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Is this a house where you own 50% of the equity and pay rent to the other owner?The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0
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To be clear are you living in the house you own 50% of? or are you asking if you can claim help with the rent because you're living in the property you own 50% of?0
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Probably best for you to do a benefit check using one of these benefits calculators:If applicable, Universal Credit is the only way you would get assistance with paying rent. They will expect you to look for/ work unless assessed as having limited capability for work related activity.1
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I’m confused. Where are you living at the moment - are you renting a property for yourself whilst owning or part owning somewhere else?Any children or partner?If you want meaningful help, you need to give more than the bare minimum.All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.0 -
For clarity.... you are living in a rented property you do not own but are renting out a property you do own which has equity around £40k in it and you own it alone?"Do not attribute to conspiracy what can adequately be explained by incompetence" - rogerblack1
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sorry for the confusion.I rent a house from a LL, I have a property BTL elsewhere.no partner/no kids.i always thought for UC they would deduct 80k minus 10% which would mean no UC. But thats a 2nd property.I only own 1 property which I dont live in.0
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Rog4632 said:sorry for the confusion.I rent a house from a LL, I have a property BTL elsewhere.no partner/no kids.i always thought for UC they would deduct 80k minus 10% which would mean no UC. But thats a 2nd property.I only own 1 property which I dont live in.
It's probably commonly referred to as 'a second' property because often people own the home in which they live as well as the one in which they don't. But that's irrelevant really, what counts is the capital you're deemed to have.0 -
Spoonie_Turtle said:Property you own but don't live in its taken into account for UC, unless it falls into one of few exceptions. One such exception is if you're actively trying to sell it; off the top of my head I can't remember the other exceptions
Very timely guidance update from the DWP:
https://www.gov.uk/guidance/universal-credit-money-savings-and-investments#propertyProperty you own, but do not live in
Property in your name that you do not live in is taken into account unless it’s the main home of:- a close relative who is retired or has a severe health condition
- a former partner who is a lone parent
We need to know about the value of any property that you have a financial interest in, for example:
- holiday homes
- caravans
- land
- property you let out
- property someone else lives in, where your name has been added to the mortgage
For example, if you’ve been added to the mortgage for the home your sister lives in, this home is in your name and will need to be declared.
Business property
Property you own to run a trade, such as a hotel or bed and breakfast, is not taken into account for Universal Credit.
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Quick calculation of your second property is value of property minus outstanding on mortgage then minus 10% of the value.
So £80K - Mortgage= X. Then X minus £8k = Captial.
You have £8K in savings ( I assume seperate from the second home) so therefore without the second home your UC will be reduced by £4.35 for each £250 over £6K (£8K = £4.35 X 8)
Having this £8K savings and a second house means that if the Capital of the second house is above £8K then your UC will stop, if anywhere between £0 and £8K then it will further attract the £4.35 deduction for each £250 or part of there in.Proud to have dealt with our debtsStarting debt 2005 £65.7K.
Current debt ZERO.DEBT FREE0 -
Rog4632 said:sorry for the confusion.I rent a house from a LL, I have a property BTL elsewhere.no partner/no kids.i always thought for UC they would deduct 80k minus 10% which would mean no UC. But thats a 2nd property.I only own 1 property which I dont live in.1
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