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Means tested JSA and rental property

  • 18-10-2011 11:33AM
    #1
    sexymama
    Closed Accounts Posts: 82 ✭✭


    Hi,in case it might affect me and my family in the future can anyone clarify the above for me?

    Do SW take into account the mortgage,management fee etc when means testing for JSA? Was looking on their website but can't find out where it actually says if it does or doesn't:confused:

    Would appreciate any replies thanks!

    SM


Comments

  • #2
    mp22
    Moderators, Business & Finance Moderators, Regional South Moderators Posts: 6,854 Mod ✭✭✭✭mp22


    Assessment of house property

    Property covered by this rule includes houses (other than a person's own home), buildings or land owned but not personally used or enjoyed.
    The house in which a person resides, together with furniture and personal effects is not assessed.
    Property must be capable of being sold, let or put to profitable use before a capital value assessment is applied.
    The most common example is where a person owns a second house. If the house is let, the owner is assessed with the capital value of the property, not with the income from the letting. Similarly, the market value of leases and ground rents is assessed as capital; the income is not assessed.
    Any outstanding mortgage registered against the property is deducted from the market value.


    http://www.welfare.ie/EN/OperationalGuidelines/Pages/meansassess.aspx#sect1


  • #3
    sexymama
    Closed Accounts Posts: 82 ✭✭sexymama


    mp22 wrote: »
    Assessment of house property


    Any outstanding mortgage registered against the property is deducted from the market value.


    http://www.welfare.ie/EN/OperationalGuidelines/Pages/meansassess.aspx#sect1


    Thanks mp22 for your reply.
    My other half's job is looking a bit iffy at the moment. I know that he would be entitled to JB for the first year but if he wasn't lucky enough to find a job and went onto JA wasn't too sure how it worked with rental property.
    The above just clarifies it a bit for me.
    In the current market the house is worth about 30,000 less than the mortgage still owed.

    thanks

    SM


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