Redundancy advice

[Skintalways]

My dp is getting made redundant. I work part time, I have asked for extra hours but this may take some time. He will get 6 months wages as a redundancy package. Will we be entitled to anything at all? We have no savings and a large mortgage. 2 kids, oldest lives at home and has good bit of savings. Hoping to buy a wee flat soon. Any advice?? Hopefully do will get something quick enough but it's a worry with so many people out of work 😒. He's a manager.

You will be able to claim Universal Credit, however his redundancy payout and your wages will reduce your entitlement.

Do you have mortgage protection insurance that would cover the payments? You wouldn't get help via benefits towards the mortgage, so it may be wise to speak to the mortgage lender and see if you can take a payment holiday, or drop to interest only for a while.

Do you mean benefits? It depends on what you earn and what ages your dc are. His redundancy pay will be counted as savings so if it’s over £16000 you won’t be entitled to universal credit until your savings fall below that level.

Good luck op and I hope he gets sorted

Thanks guys, I'm hoping I'll get full time which will give us some breathing space until he gets something! Hes Not fussy will do whatever to earn something.

First 30k is tax free, so this will give you a few extra months breathing space.

Are the 'kids' adults as you talk about one of the buying a property? If so, you might find you're not entitled to much. He should get contributions based JSA. Also, if he's getting 6 months redundancy he's probably been there a good while and should have a few months notice as well?

Yes oldest son is 20 so I was wondering if his income/savings would affect us. He should get some notice!!