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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11155
Experience:  30 years as a practising solicitor.
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When my Mother passed away I had to take a mortgage out as

Resolved Question:

When my Mother passed away I had to take a mortgage out as she had a Retirement mortgage.as I was in my 70's it was difficult to get a mortgage eventually Halifax gave me a retirement one similar to my Mothers, I was able to afford it until October last year when increased the mortgage from £106 a month to £149.39 being on a fixed pension it has been difficult. As a consequence after a discussion with my sister and brother I have put the property on the market, inaccordance with my Mothers will the proceeds after outstanding balance is paid will be divided between the 3 of us, which will amount to about £10.000 each, how would I stand as regards benefits? At present I receive Pension Credits. and housing benefit. I will have clear some debts with my £10,000 so there will be nothing like that amount in my account.
Submitted: 3 years ago.
Category: Scots Law
Expert:  JGM replied 3 years ago.
Thank you for your question.

What benefits do you envisage claiming once the house is sold and what level of savings do you estimate you will have?

In whose name is XXXXX XXXXX to the house at the moment?
Customer: replied 3 years ago.

Title is in my name. I reckon I will have about £7,000 left, I think I will be able to still get Pension Credit, possibly housing benifit.

Expert:  JGM replied 3 years ago.
If you have more than £6,000 you will not qualify for Council Tax Support. For Housing Benefit the first £6,000 of your capital is not counted - but for every part or full £250 above £6,000, they will proportionately reduce the benefit.

You will get pension credit.
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