Am I allowed to increase monthly mortgage repayments on UC?

Twinklestar2219

I'm on UC, we get quite a few different benefits and I am wondering if we would be allowed to increase our monthly mortgage repayments from £300 ish to £950? We are nowhere near the savings limit, so not trying to deprive myself, just wanting the mortgage paid off early before the fixed interest rate ends. Would this be seen as ok in the eyes of the dwp? 

marcia_

Twinklestar2219 said:

I'm on UC, we get quite a few different benefits and I am wondering if we would be allowed to increase our monthly mortgage repayments from £300 ish to £950? We are nowhere near the savings limit, so not trying to deprive myself, just wanting the mortgage paid off early before the fixed interest rate ends. Would this be seen as ok in the eyes of the dwp? 

 Unless like you say, you are trying to deprive yourself of savings to get benefits then you can pay as much as you want. 

huckster

Whatever you increase mortgage payments to, presuming this is voluntarily paying overpayments and not a new agreement you are making. As it is further securing housing then no issue to DWP.  And would potentially avoid you building up savings causing issues with any means tested benefits.

michaels

Universal Credit: money, savings and investments - GOV.UK

Think it should come under this provision anyway?

peteuk

Mortgage payments £300, mines £2K…

marcia_

peteuk said:

Mortgage payments £300, mines £2K…

Oh my how do you cope! 

peteuk

marcia_ said:

peteuk said:

Mortgage payments £300, mines £2K…

Oh my how do you cope! 

Only just, theres a reason why is £2K (poor credit rating, age at start/end of mortgage). But both the wife and I work full time and as a professional I get an ok wage.  But that wasn’t my point….

My point was where do you get a monthly mortgage repayment of £300 in this day and age.  And if they can add £650 to it then Id question the need for UC.  

Northern_Wanderer

peteuk said:

My point was where do you get a monthly mortgage repayment of £300 in this day and age.

I suppose it depends how much you paid for the property/ how much the mortgage was for.

peteuk said:

  And if they can add £650 to it then Id question the need for UC.  

I too wonder where the extra income is coming from and if there is income that needs to be notified to UC???

kaMelo

One needs to bear in mind everyone's situation is different, one post a while back was a couple whose household income would need to exceed £80,000 before their UC would be zeroed by deductions.

peteuk

kaMelo said:

One needs to bear in mind everyone's situation is different, one post a while back was a couple whose household income would need to exceed £80,000 before their UC would be zeroed by deductions.

Totally agree, and given that the OP mentions multiple benefits leads into a greater cause for them to claim benefits.

But my point was in interest rates alone my mortgage has increased by £250 per month, so I £300 per month mortgage is rare given the current political and financial environment.  Equally the OP has a spare £600 per month to over pay their mortgage, so is this per month, if so then thats a total of £7200 per year.  Check your mortgage agreement for over paying.

My son struggles on UC, I struggle with a full time job to makes ends meet, at present theres too much month to be covered by my wage.  Im not saying those on benefits get an easier life, cause I know they dont, but sometimes when such posts are on here it does make me think why did i bother?

There are obviously people who need the benefits system and there are a few people who know how to use and to somewhat abuse the benefit system. I know these people are few and far between however the optics is never good.

justwhat

marcia_ said:

Twinklestar2219 said:

I'm on UC, we get quite a few different benefits and I am wondering if we would be allowed to increase our monthly mortgage repayments from £300 ish to £950? We are nowhere near the savings limit, so not trying to deprive myself, just wanting the mortgage paid off early before the fixed interest rate ends. Would this be seen as ok in the eyes of the dwp? 

 Unless like you say, you are trying to deprive yourself of savings to get benefits then you can pay as much as you want. 

As far as i am aware you can pay-off an unlimited  amount to debt. Debt repayments themselves is never  deliberate deprivation of savings.