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Mortgage capital payment on benefits


rp1608
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Hi

 

I have a friend who has been on benefits for some time he has £2000 in savings, which he has had for some time. He wondered if he could use the savings to pay off some of the mortgage capital? I can't see why not, since you are allowed savings and I assume you can do as you wish with it.

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The answer is that it will probably be fine, especially if £2000 is all he has in savings as he's nowhere near the limits at which income based benefits are affected, so deprivation of capital won't be an issue. Do you know which benefit he receives, and is it income or contribution based?

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