Benefit eligibility following redundancy?

[CarGirl]

Dh and I are both at risk from redundancy, I am struggling to find out the information I need to know.......

Does our redundancy money count towards savings?

Do our mortgage overpayments (classed as overpayment reserve) count as savings?

Is the savings limit £6k each?

How much money will we get for our family - 2 adults & 2 children?

What is the eligibility for help with interest element of our mortgage payments. Bought current home in 2002?

I just want to be prepared for how destitute we could be if neither of us find work quickly.

TIA

urgh that should be 3 children.

Presumably we would get full council tax benefit, free school meals, anything else?

what would you do with your redundancy payments??

I think you should have a look at a benefit checker website like this.

If you've been paying NI, you should get 6mths contributions based JSA, irrespective of savings.

the limit is joint because benefits apps are joint if you are married or living in a domestic parntership.

you should first be eligible for contribution-based jobseeker's allowance and whatever child credit you can get. contribution based JSA is not means-tested.

but after 6 months, income-based JSA is.

additionally, savings will count with regards to housing and council tax benefit.

redundancy payments wouldn't be much but we'd pay off some of our mortgage with it to reduce our monthly outgoings/debt.

What are the rules for being eligible for help with your mortgage interest?

What child credit do you get?

This is what I mean really, how much per week would be expected to live off if we got full help ie assuming we had no savings just to make it easier?

the redundancy payout will be considered an asset/savings.

you need to be on income-based JSA to qualify for Mortgage Interest benefit. you qualify for that after 6 months on contribution-based JSA.

here

your child tax credits may increase.

sorry, i meant child tax credit.

you'll get contribution-based JSA and child tax credit to live on for the first 6 months.

Thanks for that expat, much more helpful than what I managed to find.

We're trying to decide on whether we dare spend our current "savings" to replace our literally falling apart kitchen or keep it for worse case scenario

Considering you will not be eligible for help with your mortgage interest for the first 6 months, I'd be inclined to save it for worst case until you know more.

WRT council tax benefit, eligibility can vary.

To see your local council's guidelines scroll down here:
counciltaxbenefit

I'm going to look at how much redundancy we're going to get whether it makes taking the risk doable.

Worst case scenario is that we could move away and be mortgage free - much harder to sell with our falling apart 80's kitchen and 50 year old single glazed window and rotten door!

Think we will be safe for another year, we fortunately won't be in the first round.

Very very for those who are.

If you're safe for another year, then it might be in your best interests to repair the kitchen indeed.

With the present government, I would expect all benefits to be cut or frozen across the board in the next year or so.