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Hap and savings

  • 10-09-2019 12:14am
    #1
    Registered Users, Registered Users 2 Posts: 44


    Hey all just a quick one,

    My goal is to get a mortgage, I’m currently receiving hap on my apartment.

    If you can’t have more than 5000 in savings at any one time how is anyone ever supposed to save for a deposit?

    Or am I missing something


Comments

  • Closed Accounts Posts: 702 ✭✭✭Portsalon


    Hey all just a quick one,

    My goal is to get a mortgage, I’m currently receiving hap on my apartment.

    If you can’t have more than 5000 in savings at any one time how is anyone ever supposed to save for a deposit?

    Or am I missing something


    What purveyor of misinformation has led you to believe that if you have more than €5,000 in savings you cannot avail of HAP?


  • Registered Users, Registered Users 2 Posts: 44 Cornflakes132


    Portsalon wrote: »
    What purveyor of misinformation has led you to believe that if you have more than €5,000 in savings you cannot avail of HAP?

    This is on citizens information

    The income limits for the Supplementary Welfare Allowance Scheme (under which Rent Supplement is paid) are lower than those for other social welfare payments. If, for example, you inherit €15,000 this may have no effect on your main payment (because you can have up to €20,000 capital for the majority of means-tested social welfare payments and €50,000 for Disability Allowance) but it may affect your Rent Supplement (because any capital over €5,000 is assessed).


  • Closed Accounts Posts: 702 ✭✭✭Portsalon


    This is on citizens information

    The income limits for the Supplementary Welfare Allowance Scheme (under which Rent Supplement is paid) are lower than those for other social welfare payments. If, for example, you inherit €15,000 this may have no effect on your main payment (because you can have up to €20,000 capital for the majority of means-tested social welfare payments and €50,000 for Disability Allowance) but it may affect your Rent Supplement (because any capital over €5,000 is assessed).

    Nowhere does that extract state that you're not eligible for HAP if you've more than €5,000 in savings!

    All that will happen is that the rent contribution that you have to pay will increase slightly.


  • Registered Users, Registered Users 2 Posts: 44 Cornflakes132


    Portsalon wrote: »
    Nowhere does that state that you're not eligible for HAP if you've more than €5,000 in savings.

    So hap won’t care then if you accumulate savings?


  • Registered Users, Registered Users 2 Posts: 5,076 ✭✭✭Iseedeadpixels


    So hap won’t care then if you accumulate savings?

    Nope as far as Im aware its to do with your wages 35000 I believe is the limit.


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  • Closed Accounts Posts: 702 ✭✭✭Portsalon


    So hap won’t care then if you accumulate savings?

    "HAP" is an inanimate thing so has no feelings about anything!

    However, the local authority that is paying your HAP will 'care' if you accumulate savings and it will express its care by re-calculating the amount of your weekly rent contribution.


  • Registered Users, Registered Users 2 Posts: 5,076 ✭✭✭Iseedeadpixels


    Portsalon wrote: »
    "HAP" is an inanimate thing so has no feelings about anything!

    However, the local authority that is paying your HAP will 'care' if you accumulate savings and it will express its care by re-calculating the amount of your weekly rent contribution.

    Do the local authority check on that? I assume they ask for bank statements etc?


  • Closed Accounts Posts: 702 ✭✭✭Portsalon


    Do the local authority check on that? I assume they ask for bank statements etc?

    I think that they review means annually - but HAP/RS applicants are meant to advise them of any (significant) change in means.


  • Registered Users, Registered Users 2 Posts: 5,076 ✭✭✭Iseedeadpixels


    Portsalon wrote: »
    I think that they review means annually - but HAP/RS applicants are meant to advise them of any (significant) change in means.

    "No I'm not the Iseedeadpixels with a credit union account with 20k in it" :pac:


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