Question re benefits post divorce

(7 Posts)
Johnogroats Wed 05-Mar-14 23:27:21

If as a result of a settlement, ex wife gets c£300k and has ability to raise a small mortgage to buy house of say £400k, would that person be entitled to benefits? Say she has part time job earning £15k....I have heard she is entitled to benefits of c£1k a month. Is this correct?

Thanks in advance.

Babiecakes91 Thu 06-Mar-14 00:06:08

You can't get any benefits if you have savings of over 16000.
I hope this helps but she could claim child maintenance off of you x

Babiecakes91 Thu 06-Mar-14 00:13:01

Sorry just reread and you stated she used the settlement money to buy a house, if she no longer has savings and works over 16 hours a week she could claim working tax credits and the amount vary's from case to case. She can also get child benefit which is 20 per week for 1 child and 13 for each other child. She may also get child tax credit as she is just under the limit but this all depends on her savings x

coalscuttle Thu 06-Mar-14 00:15:27

If she got £300k in cash and raised a mortgage to buy a £400k house, I'd be interested to know how she managed a mortgage of £100k on a salary of £15k a year...

Johnogroats Thu 06-Mar-14 07:42:42

Thanks all! I am not the H, but a close family friend of his. The mediator has said that she is entitled to the benefits although I found that hard to believe. As to how she will raise a mortgage of that amount, I have no idea. Finance was never her strong point and there are no savings.

Cabrinha Fri 07-Mar-14 22:25:06

Since when was £100K a small mortgage?! That's still about £500 a month!

milkysmum Fri 07-Mar-14 22:38:14

Yes I was wondering how 100k was considered a small mortgage! How much tax credits she may get will have many variables- age of dc (s), cost of any childcare etc...

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