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AIBU?

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Original poster

Universal credit savings

80 replies

Jellywithyogurt · 27/03/2024 18:44

So I have well over 50k in savings. I'm not bragging, it's our house deposit fund for one day when we can afford to move out of council. We don't touch this money.
We get tax credits and are about to move over to UC.
Would I be unreasonable to not even apply. Since I have over 16k in savings. Am I getting it wrong? I am reading that we no longer qualify.
Yabu - apply
Yanbu - don't bother, you don't qualify for it anymore

OP posts:
BookArt · 27/03/2024 18:58

I have newly applied for UC, the sale of my house with my ex is happening. I have 6 months to get my house sold (then need to prove I'm making reasonable moves to make that happen). When I then get the money I have six months to buy a new house. So it might be worth phoning and asking depending on your time line ans because you're moving over.

MarieMac · 27/03/2024 18:48

You have migration protection if they have moved you over and you didn’t initiate the move? for 12 months -they will assess you as having threshold of 16k.

Springtime79 · 27/03/2024 18:48

I don’t think you are eligible anymore.surely with 50k savings you can get a mortgage and buy a place now?

spikypinkduvet · 27/03/2024 18:45

*within

spikypinkduvet · 27/03/2024 18:45

I don’t think you’d be eligible with such a high amount of savings unless with transitional protection it’s disregarded for a short time initially ? If you could buy with if that time it could work out ?