Deprivation of Capital help

[timeforachangeithinkitsdue]

Just looking for some advice/help. It looks like DP is going to throw our son and myself out. I have fairly substantial savings that would allow me to buy a very small property. This is all my savings. Would I still be able to claim benefits of would dwp consider this deprivation of capital? For a number of reasons I would be unable to continue working without support from dp, which I am devastated about.

no, depravation of capital is say, selling a house and giving the money away? or buying a car or literally not using the money to house yourself.

If you want help of the government, you will be better off renting, not having any savings above 6k as they will help towards your rent. So to me, it isnt a good thing having money!

It's not deprivation of capital to spend it on a house that you live in.

You actually save the tax payer long term in not having to claim housing costs for rent when you have no income.

Buy the house before you claim. Then you show them where the money went if they ask and explain that you were being thrown out so you needed somewhere to live. Ie you sorted one problem.

I weighed it up.

Buying was better. The mortgage was fat cheaper than rent. So worked out better even though UC dont help pay towards towards mortgage.

Also I disnt need to worry about having money in savings, incase I had to move again

And it's not deprivation.

If you can afford to get a mortgage on a suitable property, that's probably the best way to go, as you'll have somewhere secure to live and won't have to worry about having to move between insecure rented properties or find landlords that accept HB.

Sorry, meant 'buy a suitable property'. I know you said buy outright, and that certainly is one option, but if you are reasonably confident about sorting out the benefits that you will be entitled to fairly quickly, and/or being able to work when DC are older, another option would be to use most of your money to buy the property, keep back £10/20k as an emergency fund/living expenses and take out a small mortgage for the rest, neglecting to mention that you plan to give up work until after the mortgage has completed. If you go for a long term fixed rate, you won't have to worry about proving your income any time soon, so as long as you keep paying the mortgage everything will be fine.

This may allow you to spend a little more, and get something more suitable than a 'very small property' that your funds will allow when buying outright. Eg if you have £100k, instead of buying a £100k property, buy a £130k property with a £50k mortgage - you could get a 10 year fixed rate at about 2.2%. Over 20 years, the monthly repayments would be £260, but obviously you could choose a different term and you'd have to consider your circumstances as to whether you could afford a small mortgage and whether you think you'll be able to work when DC are older etc.

Using savings to buy a property you will live in won't be considered deprivation of capital. How old is your son? Are you aware of the rules around claiming benefits and not working?

My son is 3.5, he has a disability. I do not know how/whether he will cope with school. Hence I do not know whether i will be able to work or not.