Renting out a property whilst on ESA & DLA

[bkk]

I currently receive ESA, DLA and housing benefit for a long-standing disability. My savings have amounted to £6,500 (which i have declared) and thus my ESA is gradually going down by £1 a week for every £250 increment, hence i thought i would invest the money in a buy-to-let.

 

How would this affect my benefits?? I imagine after all deductions from the rent, i would receive around £200 a month NET.

 

The obvious goal is to become self-sufficient in a gradual move away from benefits over the long term.

 

Advice is greatly appreciated, as the benefits helpline no longer exists. Thank you.

[honeybee13]

Hello and welcome to CAG.

 

I expect the forum guys will be along over the course of the day with advice for you.

 

My best, HB

[Nystagmite]

Your DLA isn't affected; as it's not income based.

[thegingerone]

How would you be able to get a mortgage on benefit?

a buy to let mortgage is almost impossible to get for most people,

and what about the deposit for the property, where would you get this from?

Edited October 31, 2013 by thegingerone

[bkk]

Thanks guys!

 

ESA and DLA are classed as "proven" income with regards to my lender.

 

£6500 is my deposit. Not all parts of the country have excessive asking prices!