Buying a house

Firo09

Thanks for all positive and negative comments but nobody really knows our situation and id rather not talk about it but yes i am aware social housing is for those that cannot afford to rent privately or buy their own home BUT if i am entitled to stay in my HA flat if my wife was to purchase a house then i would like to use that right and we would prefer to stay in the flat, and just invest in the property for the time being.

itsthelittlethings

Firo09 said:

Thanks for all positive and negative comments but nobody really knows our situation and id rather not talk about it but yes i am aware social housing is for those that cannot afford to rent privately or buy their own home BUT if i am entitled to stay in my HA flat if my wife was to purchase a house then i would like to use that right and we would prefer to stay in the flat, and just invest in the property for the time being.

I wouldn’t take the advice of people on this thread as gospel - ask your HA for a definitive answer.

Are you claiming any benefits? If so you would start to struggle if you owned a property. If you got unwell and needed to claim you would also be in a pickle if you had a property you were letting out. This is definitely worth considering.

Firo09

Yes i get universal credit but i have checked the shelter website and it states if a close relative lives there and they are of pension age or has limited capability for work then the house value will be ignored

Like i said previously my father will live in the property for the time being so my universal credit won’t be effected?

elsien

You are referring to your father as a lodger. He won’t be because he will have exclusive occupation of the house. He will be a tenant with tenants rights. Just so you’re clear on that. Will he be claiming benefits to pay you rent, because you also need to be aware of contrived tenancies 
And you didn’t ask this, but I’m saying it anyway – still claiming universal credit while having enough money to buy a house for someone else to live in appears to me to be taking advantage of both the benefits and the social housing systems.

marcia_

Firo09 said:

Yes i get universal credit but i have checked the shelter website and it states if a close relative lives there and they are of pension age or has limited capability for work then the house value will be ignored

Like i said previously my father will live in the property for the time being so my universal credit won’t be effected?

 How much of a deposit do you have? Surely this will affect your universal credit.

swingaloo

As marcia says, if you have enough for a deposit on a house then you shouldnt be getting UC anyway.

Seems a bit like you plan to stay in a HA property whilst someone else claims benefits to pay your mortgage on the property you plan to buy.

If the plan is to buy a house for a relative to live in and for them to claim help with the rent in order to pay you then that wont work. 
If you get help with housing costs now then that should cease if you buy a property.

itsthelittlethings

Yes, if you’re in UC how do you have the money to buy a house? The savings limit is £16k. As it’s a joint claim your wife can’t have the money either.

itsthelittlethings

As soon as you get the money, your claim should stop. The money can be disregarded if you intend to buy a property with it but I think that’s a property to live in.

sheramber

Any capital.i. e. Savings,  over &6k will reduce your UC  entitlement. 

Any money inherited / gifted will also count as capital. 

So. It is very difficult to save up enough for a deposit. 

Buying a house you dot intend to live in could be considered deprivation of assets. 

Unless you are buying with cash,  have  you checked if you can get / afford a mortgage?

You need to do a lot of research. 

marcia_

Firo09 said:

Yes i get universal credit but i have checked the shelter website and it states if a close relative lives there and they are of pension age or has limited capability for work then the house value will be ignored

Like i said previously my father will live in the property for the time being so my universal credit won’t be effected?

 I know of 2 housing associations near me whereby you would no longer qualify for social housing and would be expected to inform them. Nor would you be given a place on the waiting list for the whole of the region if you owned a property you didn't live in.