I'm not on any benefits and have no intention of being, but i've 
recently cleared my mortgage so I own my house outright (it's only a 
modest ex-council house sadly, nothing exciting - and still worth less 
than £100k).

How is this factored into benefit calculations i.e. is it seen as an 
asset that takes me above the savings threshold* in that it could be 
sold, or is just readily available banked cash counted ?

* if this is the case, isn't a bit strange that you'd have to 
effectively make yourself homeless to receive any benefits ?

TIA !

On Wed, 20 Jun 2007 01:08:32 +0100, Colin Wilson
 wrote:

>I'm not on any benefits and have no intention of being, but i've 
>recently cleared my mortgage so I own my house outright (it's only a 
>modest ex-council house sadly, nothing exciting - and still worth less 
>than £100k).
>
>How is this factored into benefit calculations i.e. is it seen as an 
>asset that takes me above the savings threshold* in that it could be 
>sold, or is just readily available banked cash counted ?
>
>* if this is the case, isn't a bit strange that you'd have to 
>effectively make yourself homeless to receive any benefits ?
>
>TIA !

If you have equity it counts towards (not getting)  legal aid...
Don't think it does for benefits though - could easuily be wrong
though and I'm sure someone who knows will be along in a bit.
-- 
http://www.freedeliveryuk.co.uk

Colin Wilson wrote:
> I'm not on any benefits and have no intention of being, but i've 
> recently cleared my mortgage so I own my house outright (it's only a 
> modest ex-council house sadly, nothing exciting - and still worth less 
> than £100k).
> 
> How is this factored into benefit calculations i.e. is it seen as an 
> asset that takes me above the savings threshold* in that it could be 
> sold, or is just readily available banked cash counted ?
> 
> * if this is the case, isn't a bit strange that you'd have to 
> effectively make yourself homeless to receive any benefits ?
> 
> TIA !

There are some items that you can possess and which are ignored for 
means tested benefits purposes - a houese (that you live in) being one 
of them, along with personal possessions etc.

There are some circumstances though where capital (savings) spent on 
purchasing an item may still be taken into account - this is where 
someone buys an item or otherwise dispoases of capital in order to 
qualify for means tested benefits (this could include paying off a 
mortgage early, but again only where it is done to bring the savings of 
the person down below £16,000 so that the person may qualify for benefit).

As well as legal aid, the value of a house can be taken into account 
under the National Assistance Act 1948 where the person enters "Part 
III" accomodation which is simply accomodation provided under Part III 
of that act (ie where the local authority would have to pay for a 
nursing home etc).

But as for means tested benefits, then there is no problem in being a 
home owner.
-- 
Robbie

<snip>
> But as for means tested benefits, then there is no problem in being a 
> home owner.

Thanks - I was just curious how it panned out !

On Wed, 20 Jun 2007 01:08:32 +0100, Colin Wilson
 wrote:

>I'm not on any benefits and have no intention of being, but i've 
>recently cleared my mortgage so I own my house outright (it's only a 
>modest ex-council house sadly, nothing exciting - and still worth less 
>than £100k).
>
>How is this factored into benefit calculations i.e. is it seen as an 
>asset that takes me above the savings threshold* in that it could be 
>sold, or is just readily available banked cash counted ?
>
>* if this is the case, isn't a bit strange that you'd have to 
>effectively make yourself homeless to receive any benefits ?
>
>TIA !

If you have equity it counts towards (not getting)  legal aid...
Don't think it does for benefits though - could easuily be wrong
though and I'm sure someone who knows will be along in a bit.
-- 
http://www.freedeliveryuk.co.uk

Colin Wilson wrote:
> I'm not on any benefits and have no intention of being, but i've 
> recently cleared my mortgage so I own my house outright (it's only a 
> modest ex-council house sadly, nothing exciting - and still worth less 
> than £100k).
> 
> How is this factored into benefit calculations i.e. is it seen as an 
> asset that takes me above the savings threshold* in that it could be 
> sold, or is just readily available banked cash counted ?
> 
> * if this is the case, isn't a bit strange that you'd have to 
> effectively make yourself homeless to receive any benefits ?
> 
> TIA !

There are some items that you can possess and which are ignored for 
means tested benefits purposes - a houese (that you live in) being one 
of them, along with personal possessions etc.

There are some circumstances though where capital (savings) spent on 
purchasing an item may still be taken into account - this is where 
someone buys an item or otherwise dispoases of capital in order to 
qualify for means tested benefits (this could include paying off a 
mortgage early, but again only where it is done to bring the savings of 
the person down below £16,000 so that the person may qualify for benefit).

As well as legal aid, the value of a house can be taken into account 
under the National Assistance Act 1948 where the person enters "Part 
III" accomodation which is simply accomodation provided under Part III 
of that act (ie where the local authority would have to pay for a 
nursing home etc).

But as for means tested benefits, then there is no problem in being a 
home owner.
-- 
Robbie

<snip>
> But as for means tested benefits, then there is no problem in being a 
> home owner.

Thanks - I was just curious how it panned out !

On Wed, 20 Jun 2007 01:08:32 +0100, Colin Wilson
 wrote:

>I'm not on any benefits and have no intention of being, but i've 
>recently cleared my mortgage so I own my house outright (it's only a 
>modest ex-council house sadly, nothing exciting - and still worth less 
>than £100k).
>
>How is this factored into benefit calculations i.e. is it seen as an 
>asset that takes me above the savings threshold* in that it could be 
>sold, or is just readily available banked cash counted ?
>
>* if this is the case, isn't a bit strange that you'd have to 
>effectively make yourself homeless to receive any benefits ?
>
>TIA !

If you have equity it counts towards (not getting)  legal aid...
Don't think it does for benefits though - could easuily be wrong
though and I'm sure someone who knows will be along in a bit.
-- 
http://www.freedeliveryuk.co.uk

Colin Wilson wrote:
> I'm not on any benefits and have no intention of being, but i've 
> recently cleared my mortgage so I own my house outright (it's only a 
> modest ex-council house sadly, nothing exciting - and still worth less 
> than £100k).
> 
> How is this factored into benefit calculations i.e. is it seen as an 
> asset that takes me above the savings threshold* in that it could be 
> sold, or is just readily available banked cash counted ?
> 
> * if this is the case, isn't a bit strange that you'd have to 
> effectively make yourself homeless to receive any benefits ?
> 
> TIA !

There are some items that you can possess and which are ignored for 
means tested benefits purposes - a houese (that you live in) being one 
of them, along with personal possessions etc.

There are some circumstances though where capital (savings) spent on 
purchasing an item may still be taken into account - this is where 
someone buys an item or otherwise dispoases of capital in order to 
qualify for means tested benefits (this could include paying off a 
mortgage early, but again only where it is done to bring the savings of 
the person down below £16,000 so that the person may qualify for benefit).

As well as legal aid, the value of a house can be taken into account 
under the National Assistance Act 1948 where the person enters "Part 
III" accomodation which is simply accomodation provided under Part III 
of that act (ie where the local authority would have to pay for a 
nursing home etc).

But as for means tested benefits, then there is no problem in being a 
home owner.
-- 
Robbie

<snip>
> But as for means tested benefits, then there is no problem in being a 
> home owner.

Thanks - I was just curious how it panned out !

On Wed, 20 Jun 2007 01:08:32 +0100, Colin Wilson
 wrote:

>I'm not on any benefits and have no intention of being, but i've 
>recently cleared my mortgage so I own my house outright (it's only a 
>modest ex-council house sadly, nothing exciting - and still worth less 
>than £100k).
>
>How is this factored into benefit calculations i.e. is it seen as an 
>asset that takes me above the savings threshold* in that it could be 
>sold, or is just readily available banked cash counted ?
>
>* if this is the case, isn't a bit strange that you'd have to 
>effectively make yourself homeless to receive any benefits ?
>
>TIA !

If you have equity it counts towards (not getting)  legal aid...
Don't think it does for benefits though - could easuily be wrong
though and I'm sure someone who knows will be along in a bit.
-- 
http://www.freedeliveryuk.co.uk

Colin Wilson wrote:
> I'm not on any benefits and have no intention of being, but i've 
> recently cleared my mortgage so I own my house outright (it's only a 
> modest ex-council house sadly, nothing exciting - and still worth less 
> than £100k).
> 
> How is this factored into benefit calculations i.e. is it seen as an 
> asset that takes me above the savings threshold* in that it could be 
> sold, or is just readily available banked cash counted ?
> 
> * if this is the case, isn't a bit strange that you'd have to 
> effectively make yourself homeless to receive any benefits ?
> 
> TIA !

There are some items that you can possess and which are ignored for 
means tested benefits purposes - a houese (that you live in) being one 
of them, along with personal possessions etc.

There are some circumstances though where capital (savings) spent on 
purchasing an item may still be taken into account - this is where 
someone buys an item or otherwise dispoases of capital in order to 
qualify for means tested benefits (this could include paying off a 
mortgage early, but again only where it is done to bring the savings of 
the person down below £16,000 so that the person may qualify for benefit).

As well as legal aid, the value of a house can be taken into account 
under the National Assistance Act 1948 where the person enters "Part 
III" accomodation which is simply accomodation provided under Part III 
of that act (ie where the local authority would have to pay for a 
nursing home etc).

But as for means tested benefits, then there is no problem in being a 
home owner.
-- 
Robbie

<snip>
> But as for means tested benefits, then there is no problem in being a 
> home owner.

Thanks - I was just curious how it panned out !

On Wed, 20 Jun 2007 01:08:32 +0100, Colin Wilson
 wrote:

>I'm not on any benefits and have no intention of being, but i've 
>recently cleared my mortgage so I own my house outright (it's only a 
>modest ex-council house sadly, nothing exciting - and still worth less 
>than £100k).
>
>How is this factored into benefit calculations i.e. is it seen as an 
>asset that takes me above the savings threshold* in that it could be 
>sold, or is just readily available banked cash counted ?
>
>* if this is the case, isn't a bit strange that you'd have to 
>effectively make yourself homeless to receive any benefits ?
>
>TIA !

If you have equity it counts towards (not getting)  legal aid...
Don't think it does for benefits though - could easuily be wrong
though and I'm sure someone who knows will be along in a bit.
-- 
http://www.freedeliveryuk.co.uk

Colin Wilson wrote:
> I'm not on any benefits and have no intention of being, but i've 
> recently cleared my mortgage so I own my house outright (it's only a 
> modest ex-council house sadly, nothing exciting - and still worth less 
> than £100k).
> 
> How is this factored into benefit calculations i.e. is it seen as an 
> asset that takes me above the savings threshold* in that it could be 
> sold, or is just readily available banked cash counted ?
> 
> * if this is the case, isn't a bit strange that you'd have to 
> effectively make yourself homeless to receive any benefits ?
> 
> TIA !

There are some items that you can possess and which are ignored for 
means tested benefits purposes - a houese (that you live in) being one 
of them, along with personal possessions etc.

There are some circumstances though where capital (savings) spent on 
purchasing an item may still be taken into account - this is where 
someone buys an item or otherwise dispoases of capital in order to 
qualify for means tested benefits (this could include paying off a 
mortgage early, but again only where it is done to bring the savings of 
the person down below £16,000 so that the person may qualify for benefit).

As well as legal aid, the value of a house can be taken into account 
under the National Assistance Act 1948 where the person enters "Part 
III" accomodation which is simply accomodation provided under Part III 
of that act (ie where the local authority would have to pay for a 
nursing home etc).

But as for means tested benefits, then there is no problem in being a 
home owner.
-- 
Robbie

<snip>
> But as for means tested benefits, then there is no problem in being a 
> home owner.

Thanks - I was just curious how it panned out !