Coming off UC due to house purchase question

[StrawberryKick]

Hi all

I'm a single, full time working parent to 2 DC. I currently receive a small amount of UC because I private rent and pay childcare.

My grandparent recently passed away, their house was sold and my parents have very kindly offered to gift me some of the proceeds (around £20k) as a deposit to buy a house. I was amazed that I could get a mortgage and have had an offer accepted on a small property (we live in a cheap area).

I don't have those gifted funds in my account yet, the solicitor says it's not necessary to do that until we complete in a few months time and I don't have any savings of my own bar a few hundred so I am still receiving UC (around £200 per month).

My question is, obviously I need to come off UC as soon as the house purchase goes through as I know I'm not eligible as a home owner but do I need to tell them exactly why or can I just say I don't want to claim anymore? The amount of paperwork they wanted when I did my claim a few years ago totally stressed me out and I'd assume they would want every single document to do with the deposit and sale. I wouldn't be claiming when the deposit hits my account so wouldn't be claiming anything I'm not entitled to

I'm just trying to spare myself some stress, and money as amazingly the mortgage will be about £300 cheaper than the rent I'm paying!!!

Thanks

My parents who gifted me money (and had to put in my account for me to put it in solicitor's account) had to have ID checks like me because the money was still coming from them

It seems that solicitors vary. I didn’t have ID checks. Clearly some are much more pedantic than others.

“Pedantic” 😂

It is a requirement to reduce money laundering that solicitors know the source of funds that they are transferring.

I think your solicitor was lax rather than others being pedantic.

Universal credit is made up of different allowances including a work allowance and housing if you rent. As the op will no longer rent she'll lose the housing element but get a higher work allowance, overall it will be lower but it might still be high enough to get some universal credit

I gifted my younger DS £55k deposit and he didn't have to pay tax on it because I'd already paid tax on it as part of my income.

Hi,

I have been claiming universal credit as a single parent for over a year. I left an abusive relationship and I am currently renting with my 3 year old. I work full time so I have deductions & the amount I get paid is the 85% of my daughters childcare costs.

My ex has now sold our house and I am due to receive £69k from the sale. My intentions are to put this straight down as a deposit on a house for me & my daughter. Will universal credit stop my payments towards my daughters childcare if this is put straight back into another property or will I be expected to save the money from the equity for childcare fees now & use what is left for my house purchase? I’m so confused how this works and don’t want to get into any trouble. Thanks