Buying a House Outright On Social Welfare

Techlit

hey all
is it possible to buy a house outright if you have no job ??

is_that_so

You probably need to offer up a bit more detail if you want people to offer comments; type of house, access to personal funding etc.

harr

Techlit wrote: »

hey all
is it possible to buy a house outright if you have no job ??

It’s possible, but expect the social welfare office to come knocking and asking questions as to where you got the funds to purchase a house.

lalababa

Assuming the potential buyer is the occupier and rent payer of the house. Assuming the council have a policy in place in that specific area at the time to allow a buy out by an occupier.
Then yes. Usually around 50% of potential market value with a no reselling for 10+ year clause..

secman

Revenue would also be very interested how you accumulated the funds. Solicitor would be bound to ask too, anti money laundering legislation would be applicable.
Of course if you can fully account for funds, eg inheritance and it's all tax compliant, nothing stopping you buying, then you may be means tested by Social.

Techlit

ok guys thanks
i should of worded it better , its actually my dad who is selling a period house in sligo, at the moment he is claiming his pension and is looking to buy a house outright

zell12

Yes, yes you can.

Outkast_IRE

Pension is a different kettle of fish , its not means tested so he can do what he want with his personal funds .

lalababa

Techlit wrote: »

ok guys thanks
i should of worded it better , its actually my dad who is selling a period house in sligo, at the moment he is claiming his pension and is looking to buy a house outright

First port of call is the council, see what their policy is.

Victor

If the existing house funds the new house, it shouldn't be a problem. If extra funding is required, getting a mortgage or other support would be very difficult.

Mere ownership of your home usually isn't a problem in qualifying for social welfare. You can normally own your home* and have about €20,000(?) in cash before welfare will reduce a payment. This can include means-tested pensions and related benefits.

lalababa wrote: »

First port of call is the council, see what their policy is.

I'm not sure why you mention the council.



* If it's worth €6m, you might have difficulty obtaining a other than a very short-term payment.

1hnr79jr65

harr wrote: »

It’s possible, but expect the social welfare office to come knocking and asking questions as to where you got the funds to purchase a house.

And CAB

NIMAN

Another WUM?

Micky 32

Sour Lemonz wrote: »

And CAB

There's a few close nit families around Longford that buy up a lot of property these days and i never see Revenue, Social welfare and CAB knocking on their doors :rolleyes: