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Possibly buying a small house for myself.
- TheShaneMan
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10 months 3 weeks ago #285005 by TheShaneMan
Possibly buying a small house for myself. was created by TheShaneMan
My situation is. I am currently getting high rate PIP & ESA as i am disabled man with one leg and mental health issued. I am a 45yr old man who was renting from a landlord for 8 years, until he sold the house over 18 months ago. I have been back home living with my parents ever since then as trying to find a new rental home is so scarce in my area. And there is a lack of social housing. Plus living at home again is driving me nuts. There is a small house nearby up for sale at 100k witch i have been interested in. I have an old classic car witch i could sell tomorrow for 20k. I have alcohol and gambling addictions. But very recently i have been lucky with crypto curreny. If i cash in on my account now today would be 40k. My three brothers said if i could get a loan for the rest of the value for the house, they would help me pay it off. So the question is, if i sold my car and sold my crypto currency to help raise capital for me to buy my first home on my name. Would i lose any of my benefits ESA or PIP ?
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- Gary
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10 months 3 weeks ago #285029 by Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gary on topic Possibly buying a small house for myself.
Hi TheShaneMan
Welcome to the forum.
You might want to have a look at the following FAQ which explains where everything is; www.benefitsandwork.co.uk/guides-for-claimants/faq/forum.
Your PIP will not be affected, you have not said what type of ESA you are receiving, If you are receiving IR ESA then yes it could be affected, if you are receiving CB ESA then no, I would contact your local Welfare Rights Organisation who can give you accurate advice; advicelocal.uk .
One word of caution, if you have crypto currency then that is a type of savings, which will probably affect any means tested benefits.
Gary
Welcome to the forum.
You might want to have a look at the following FAQ which explains where everything is; www.benefitsandwork.co.uk/guides-for-claimants/faq/forum.
Your PIP will not be affected, you have not said what type of ESA you are receiving, If you are receiving IR ESA then yes it could be affected, if you are receiving CB ESA then no, I would contact your local Welfare Rights Organisation who can give you accurate advice; advicelocal.uk .
One word of caution, if you have crypto currency then that is a type of savings, which will probably affect any means tested benefits.
Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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- Andrew
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10 months 3 weeks ago #285048 by Andrew
Replied by Andrew on topic Possibly buying a small house for myself.
Hi,
If I may....
Be wary of capital gains tax; HMRC are now actively chasing people who invest in crypto. I`ve dabbled with Bitcoin, my maximum holding was £3000, but I had a letter from HMRC saying (words to the effect of) they are chasing people with more than £5000 in their crypto account.
Andy
If I may....
Be wary of capital gains tax; HMRC are now actively chasing people who invest in crypto. I`ve dabbled with Bitcoin, my maximum holding was £3000, but I had a letter from HMRC saying (words to the effect of) they are chasing people with more than £5000 in their crypto account.
Andy
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