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Buying a house while on welfare

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  • 12-10-2013 12:29am
    #1
    rasaalex
    Registered Users Posts: 3 ✭


    Will my social welfare be affected if i buy the house ? If yes, how ? I am currently on Ras scheme. Me and my husband both unemployed. We have 7 children. Husband's brother (he doesn't live in Ireland) agreed to lend us 50 000 euro for the new house.


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    #2
    ezra_pound
    Registered Users Posts: 2,497 ✭✭✭ezra_pound


    rasaalex wrote: »
    Will my social welfare be affected if i buy the house ? If yes, how ? I am currently on Ras scheme. Me and my husband both unemployed. We have 7 children. Husband's brother (he doesn't live in Ireland) agreed to lend us 50 000 euro for the new house.


    No. But... Are you going to be able to get mortgage?

    Ppr does not affect welfare. If you rent out house then it will affect it.


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    #3
    d-don
    Registered Users Posts: 250 ✭✭d-don


    Emmmmm .... How much is the house and how much after the 50k is the mortgage because a cent over not a snow balls chance...


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    #4
    ezra_pound
    Registered Users Posts: 2,497 ✭✭✭ezra_pound


    d-don wrote: »
    Emmmmm .... How much is the house and how much after the 50k is the mortgage because a cent over not a snow balls chance...

    What do you mean?


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    #5
    pappyodaniel
    Registered Users Posts: 5,738 ✭✭✭pappyodaniel


    That's just bad trolling and you should feel bad.


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    #6
    spank_inferno
    Closed Accounts Posts: 3,892 ✭✭✭spank_inferno


    rasaalex wrote: »
    Will my social welfare be affected if i buy the house ? If yes, how ? I am currently on Ras scheme. Me and my husband both unemployed. We have 7 children. Husband's brother (he doesn't live in Ireland) agreed to lend us 50 000 euro for the new house.


    If you meet with your community welfare officer he / she will personally co-sign a mortgage with you for a value up to €350,000.


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    #7
    Charlie19
    Registered Users Posts: 11,753 ✭✭✭✭Charlie19


    pappyodaniel wrote: »
    That's just bad trolling and you should feel bad.

    Would make more sense for the relation to buy the house in the middle of nowhere and rent it to them free of charge.


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    #8
    d-don
    Registered Users Posts: 250 ✭✭d-don


    spank_inferno wrote: »
    If you meet with your community welfare officer he / she will personally co-sign a mortgage with you for a value up to €350,000.


    I wasn't trolling on the above reply etc ... So you are saying .. Well let's assume the house is €200k and they have a deposit of €50 and both un employed with 7 kids . Now logical sense days their unemployment benefit is easily consumed by the family so how on gods earth can they afford a €150 k mortgage ... Sorry for being realistic unless there is another hole in the benefit law


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    #9
    phormium
    Registered Users Posts: 3,340 ✭✭✭phormium


    I presumed OP meant the house was costing 50k or thereabouts. They would have no hope of getting a mortgage with both being unemployed so this must be the full amount of the purchase price.

    Might make more sense for the brother to buy the house and let them live there, there would be a gift tax implication as it is above the threshold to be factored in as well if he gives them the money.


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    #10
    ted1
    Registered Users Posts: 23,532 ✭✭✭✭ted1


    d-don wrote: »
    I wasn't trolling on the above reply etc ... So you are saying .. Well let's assume the house is €200k and they have a deposit of €50 and both un employed with 7 kids . Now logical sense days their unemployment benefit is easily consumed by the family so how on gods earth can they afford a €150 k mortgage ... Sorry for being realistic unless there is another hole in the benefit law

    Plenty of houses are available for less than 70k just search through Daft. The OP never stated where she was looking and what the house price is


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    #11
    No Pants
    Closed Accounts Posts: 3,347 ✭✭✭No Pants


    phormium wrote: »
    Might make more sense for the brother to buy the house and let them live there, there would be a gift tax implication as it is above the threshold to be factored in as well if he gives them the money.
    Brother buys house and rents it to them for €1 a week?


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    #12
    Moonbeam
    Moderators, Education Moderators, Society & Culture Moderators Posts: 18,953 Mod ✭✭✭✭Moonbeam


    Does the house cost 50k?


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    #13
    rasaalex
    Registered Users Posts: 3 ✭rasaalex


    The house cost 50000. And brother is giving me a loan . I'll repay him when i find a job, he does it because he is generous person. No time limits for repayment.


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    #14
    Victor
    Registered Users Posts: 78,414 ✭✭✭✭Victor


    With 7 children, will you need a fourth bedroom?


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    #15
    MagicMarker
    Banned (with Prison Access) Posts: 32,865 ✭✭✭✭MagicMarker


    What about tax implications here? I don't think your in law can just give you 50k tax free.


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    #16
    purpleflower48
    Registered Users Posts: 3 ✭purpleflower48


    hi can you explain a little more re community welfare officer signing off on a mortgage of that size please? i don't understand what is involved .


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    #17
    Victor
    Registered Users Posts: 78,414 ✭✭✭✭Victor


    With 7 children, will you need a fourth bedroom?


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    #18
    UCDVet
    Closed Accounts Posts: 2,894 ✭✭✭UCDVet


    MagicMarker wrote: »
    What about tax implications here? I don't think your in law can just give you 50k tax free.

    Could he not buy the house for 50k then sell it to the in-laws for .01k?

    In this market, taking a 50k loss on a house is pretty good.


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    #19
    purpleflower48
    Registered Users Posts: 3 ✭purpleflower48


    spank_inferno wrote: »
    If you meet with your community welfare officer he / she will personally co-sign a mortgage with you for a value up to €350,000.

    Hi Spank Inferno....i dont understand that....can you explain a little further please, ie...are there qualifying conditions etc for such a mortgage and in the circumstances outlined by the person who originally posted their query here? i hope i am making myself understood. lol. reply when you can thanks. :)


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    #20
    Cuddlesworth
    Registered Users Posts: 13,995 ✭✭✭✭Cuddlesworth


    purpleflower48 wrote: »
    Hi Spank Inferno....i dont understand that....can you explain a little further please, ie...are there qualifying conditions etc for such a mortgage and in the circumstances outlined by the person who originally posted their query here? i hope i am making myself understood. lol. reply when you can thanks. :)

    He was being sarcastic.


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    #21
    ballyharpat
    Registered Users Posts: 1,805 ✭✭✭ballyharpat


    welcome to the Celtic Tiger part 2 ^^^^^


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    #22
    wexie
    Closed Accounts Posts: 7,480 ✭✭✭wexie


    purpleflower48 wrote: »
    Hi Spank Inferno....i dont understand that....can you explain a little further please, ie...are there qualifying conditions etc for such a mortgage and in the circumstances outlined by the person who originally posted their query here? i hope i am making myself understood. lol. reply when you can thanks.

    You're going to need a small goat.

    Then you'll need to wait for a full moon under a spring tide.


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    #23
    purpleflower48
    Registered Users Posts: 3 ✭purpleflower48


    oh! oops . lol. ok so. no worries. :)


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    #24
    No Pants
    Closed Accounts Posts: 3,347 ✭✭✭No Pants


    This thread must be from bizarro world. Two people, neither working and with 7 kids to support ask how they can get themselves a nice unsustainable debt.


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    #25
    Victor
    Registered Users Posts: 78,414 ✭✭✭✭Victor


    OK guys, cop on. Cut the sarcasm and winding up.

    Moderator


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    #26
    Kristopherus
    Registered Users Posts: 11,907 ✭✭✭✭Kristopherus


    Victor wrote: »
    OK guys, cop on. Cut the sarcasm and winding up.

    Moderator

    There was I thinking the OP was the one that was winding up:confused:


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    #27
    Pro Hoc Vice
    Closed Accounts Posts: 6,087 ✭✭✭Pro Hoc Vice


    No Pants wrote: »
    This thread must be from bizarro world. Two people, neither working and with 7 kids to support ask how they can get themselves a nice unsustainable debt.

    Where is the unsustainable debt. Brother offers to lend 50k, repayment when OP can. The OP then gives up RAS thereby saving the state. There may be tax implications but as the 50k is loan only tax issue is zero interest and is this benifit taxable. Considering some people have 2.5% interest on home loans interest benifit is €1,250 a year so I don't see an issue.


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    #28
    Pro Hoc Vice
    Closed Accounts Posts: 6,087 ✭✭✭Pro Hoc Vice


    Kristopherus wrote: »
    There was I thinking the OP was the one that was winding up:confused:

    Where is the windup, OP asks a simple question, if a family member gives me a loan, to purchase in full a house for €50,000, will that effect any social welfare payments. The loan is to be repaid when the OP can afford it, there is no mention of interest so I assume interest free. I for one can't see a windup. €50,000 houses even 3 bedroom exist, example http://www.daft.ie/searchsale.daft?id=728915 €39,000.


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    #29
    rasaalex
    Registered Users Posts: 3 ✭rasaalex


    Yes, he can give us 50000 for buying a family house, because he is rich and good person, seeking to help our family. And we don't need four bed house , it's too expensive . We could use sitting room as a bedroom, nothing wrong in that i think. Or is there a law that 9 person family can't live in 2 bedroom house ?


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    #30
    hmmm
    Registered Users Posts: 11,205 ✭✭✭✭hmmm


    I don't see what the problem is, it's lovely to see family helping each other rather than relying on handouts from taxpayers.

    I don't see why social welfare should be affected, but I'm not an expert.


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    #31
    wexie
    Closed Accounts Posts: 7,480 ✭✭✭wexie


    You're probably better off asking here.
    I believe some of the benefits may be means tested and living mortgage and rent free may well affect those.

    But the good folks in the state benefits forum will probably know a lot better.


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