Hello all
Just wondering if anyone knows the quick answer to whether or not I will be protected as I am separating from my partner and we jointly own a house with approx £200k equity in it. We will be splitting it more or less down the middle and I have been accepted onto shared ownership scheme as we have 2 very young children and in my area there is not much suitable for the amount I can borrow, even working and with the £100k deposit.
I will need to rent in the interim and I assumed that I would not be able to claim UC as the equity sitting in my bank would make me ineligible. I currently receive child tax credits and UC will be rolled out next month in my area, so I will be automatically carried over to UC when I come to rent my interim property.
However my mediator advised there might be a transitional protection for a situation such as mine, while I bought a house? I cannot view SO properties until I have completed the sale of my current home.
Thanks to anybody who can help with this query. I don't want to dip into my deposit if possible as I need to find a decent family home ASAP.