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20k saved vs 16k income.SW eligibilty?

  • 05-04-2013 9:03pm
    #1
    corelon
    Registered Users Posts: 173 ✭✭


    Hi all,
    can someone clear this up for me please.

    I understand you would still be eligible for full social welfare benefits if you have no more than 20k saved and unemployed. If you were unemployed but had an income of 16k per year from a rented property (which just covers the mortgage) and you lived in rented accommodation would you still be eligible for full social welfare benefits? Oh and you had virtually nothing saved in your bank.

    If anyone can explain this one I would appreciate it.

    Thanks


Comments

  • #2
    eastbono
    Registered Users, Registered Users 2 Posts: 2,758 ✭✭✭eastbono


    corelon wrote: »
    Hi all,
    can someone clear this up for me please.

    I understand you would still be eligible for full social welfare benefits if you have no more than 20k saved and unemployed. If you were unemployed but had an income of 16k per year from a rented property (which just covers the mortgage) and you lived in rented accommodation would you still be eligible for full social welfare benefits? Oh and you had virtually nothing saved in your bank.

    If anyone can explain this one I would appreciate it.

    Thanks

    If you are asking about jobseekers allowance which is a means tested payment then it is the capital value of the property that is assessed less the outstanding mortgage. If the property is in negative equity i.e. the mortgage is more than the capital value then nil means will apply to the property.


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