Universal Credit. (Transitional protection) and saving purchase a property

Farah123786

Hi I would like to ask if I was to sell my house and I get money from that sale and also have a saving which has been declared to UC and I am gona use my saving and the sale of the house to buy anther house for use to live in but i am coming to a end of the 12 month transitional protection and worried I will lose uc find a house isn't easy and it has taken alot of time would uc see that I'm gona use this money toward anther house how would I inform them

Farah123786

Can I ask if I migrated to uc in jan and the 12 months coming to a end I have over 16000 saving my house is under offer and we have accepted this offer but now we are looking to buy with the money frm the sale from the property we live in and the saving we have but it's not that easy to buy a house it has taken use 2 years   and we are still looking my question is will uc stop after 12 months 
And if migrated on 3 jan wil my 12 months end in jan or Feb I'm.reali worried that uc will stop

HillStreetBlues

Farah123786 said:

Can I ask if I migrated to uc in jan and the 12 months coming to a end I have over 16000 saving my house is under offer and we have accepted this offer but now we are looking to buy with the money frm the sale from the property we live in and the saving we have but it's not that easy to buy a house it has taken use 2 years   and we are still looking my question is will uc stop after 12 months 
And if migrated on 3 jan wil my 12 months end in jan or Feb I'm.reali worried that uc will stop

The over £16k capital disregard last for 12 UC AP 3rd Jan to 2nd Feb was the first so the last AP will be 3rd Dec to 2nd Jan, unless you have a £nil award in any of those 12 AP, in which case the disregard last longer.
The £16k capital  won't be disregarded. If you have a mortgage you can use the £16k to pay some of that off.  

Brie

I believe you are allowed to have savings from the sale of a property not be counted in your UC claim but only for a limited time.  Might be 3 months?  

poppy12345

As advised in another thread where you asked the same question. The £16,000+ capital that you already have when you migrate to UC will not be disregarded for longer than 12 assessment periods. 

The house that you live in, if you sell it and not bought another can be disregarded for 6 months, longer sometimes if you plan on buying another. Although this is irrelevant anyway if you still have more than £16,000 at the end of that 12 month period. 

peteuk

So here’s what happens in reality…

You sell your house before or after your 12 months transition protection ends.  Your UC claim ends at the 12 month point. 

Your then use your savings/income to live off.  You buy your new house spending your £16k+ capital and money from the sale of your house…

At which point your free to reapply for UC and need to fit the entitlement for UC.