actual/notional capital from house sale when intends to buy shared equity prop with proceeds and claim hb

Hi there,

A debt adviser a litte out of her depth here…...

My client is selling her property due to failed IVA and expects to have approx £40k proceeds when completes and repays creditors and IP fees.  She intends to purchase another property but is looking at shared equity, and as works part time intends to claim hb for some of the rent.

I have raised this with MCC hb dept, and they have just stated that would judge on case by case basis and that they would “have to be sure the claimant has deprived themselves of capital purely to obtain (or increase) benefit”.  They have not offered an opinion as to whether this would be classed as deprivation of capital.

I have checked CPAG and only found that the lump sum proceeds would be disregarded for 26 weeks. 

Any information would be appreciated.  thanks

Anne

Hi,

I meant shared ownership, sorry.

Thanks for responses, that’s the answer I was hoping for, but after the vagueness of our HB dept I was starting to worry a bit.

thanks
Anne