Housing Benefit & Savings

[silentmovieman]

Quick question that I think I know the answer to but it's always good to check right?

 

I understand that you can have upto £6000 in savings and still claim HB. Anything over that will affect the amount of HB you are entitled to.

 

So my question is - Does this relate to household savings or per individual in respect of a HB claim?

 

For instance my wife gets a student loan which the benefits department consider to be savings (currently at about £4500 in the bank). So if I came into some money such as compensation, inheritence or something of that nature would anything over £1500 then directly affect the HB (£6000 - £4500) or would it be £6000 I could have saved up seperately from what my wife has in her bank?

[martin2006]

If your HB claim is a joint one and it should be if your living with your wife then its household im afraid, not just you or your wife.

 

Had a similar issue 2 yrs ago after sale of house and all savings in household were taken into consideration

[antone]

Yes, household savings, not individual savings.

 

You don't mention being in receipt of any other benefits, but just for general information, savings can only be counted against one means tested benefit. That is, if you are in receipt of JSA or ESA and your entitlement to that benefit is reduced because of your savings, those same savings won't also reduce your HB entitlement.

[Nystagmite]

Your student loan is counted as income and not savings.