Benefit for landlord who is renting other city

2

Comments

  • Housing_Benefit_Officer
    Housing_Benefit_Officer Posts: 2,502 Forumite
    Combo Breaker First Post
    Topcat1982 wrote: »
    Property Price 100,000 (Mortgage 84,000)

    This rental property is an asset, so that £16k would stop you claiming HB anyway.

    You should be able to claim CTC based on your estimated income

    Your calculation is incorrect.

    We would look at the market value - £100,000 then deduct 10% - so the value would be £90,000 then deduct the outstanding mortgage - so the capital value would be just £6,000 not £16,000.
    These are my own views and you should seek advice from your local Benefits Department or CAB.
  • Housing_Benefit_Officer
    Housing_Benefit_Officer Posts: 2,502 Forumite
    Combo Breaker First Post
    We would look at your income from the rent minus mortgage and any other expenses such as insurance etc. Whatever is left would be treated as income.
    These are my own views and you should seek advice from your local Benefits Department or CAB.
  • Housing_Benefit_Officer
    Housing_Benefit_Officer Posts: 2,502 Forumite
    Combo Breaker First Post
    Sncjw wrote: »
    I would have thought they will say no because you own a property that you could move into.

    We could say yes. Doesn't matter is someone owns another property or multiple properties.
    These are my own views and you should seek advice from your local Benefits Department or CAB.
  • w06
    w06 Posts: 917 Forumite
    why the 10% deduction from market value? (just curious)
  • Cheeky_Monkey
    Cheeky_Monkey Posts: 2,072 Forumite
    I could be wrong but I read it that the property cost £100,000 to buy rather than it's current value
  • teddysmum
    teddysmum Posts: 9,471 Forumite
    First Anniversary Combo Breaker First Post
    Housing_Benefit_Officer wrote: »
    We would look at your income from the rent minus mortgage and any other expenses such as insurance etc. Whatever is left would be treated as income.



    Is this the whole mortgage payment, as opposed to just the interest as used for tax calculations ?
  • molerat
    molerat Posts: 31,851 Forumite
    Name Dropper Photogenic First Post First Anniversary
    w06 wrote: »
    why the 10% deduction from market value? (just curious)
    For sale expenses if the value was to be liquidated.
  • kingfisherblue
    kingfisherblue Posts: 9,203 Forumite
    Name Dropper First Anniversary First Post Xmas Saver!
    jessex1990 wrote: »

    Getting Carers Allowance and DLA suggests that she *may* be entitled to claim Income Support as well.

    No entitlement to Income Support as the husband works.
  • w06
    w06 Posts: 917 Forumite
    molerat wrote: »
    For sale expenses if the value was to be liquidated.
    thanks molerat
  • Housing_Benefit_Officer
    Housing_Benefit_Officer Posts: 2,502 Forumite
    Combo Breaker First Post
    w06 wrote: »
    why the 10% deduction from market value? (just curious)

    Cost of selling the asset, estate agent fees, solicitor fees etc....

    Has been 10% for nearly 30 years.
    These are my own views and you should seek advice from your local Benefits Department or CAB.
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