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Renting out a property whilst on ESA & DLA

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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.

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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


Illegitimi non carborundum

 

 

 

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

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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 by thegingerone

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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!

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