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Rent income

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7 years 11 months ago #157929 by carmind
Rent income was created by carmind
If I rent out my house can I offset the rental income against mortgage payments before it affects my income-based ESA?
Also will rental income affect my payments of Support for Mortgage Interest?

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7 years 11 months ago #157941 by Gordon
Replied by Gordon on topic Rent income

carmind wrote: If I rent out my house can I offset the rental income against mortgage payments before it affects my income-based ESA?
Also will rental income affect my payments of Support for Mortgage Interest?


I'm afraid we can't give this level of financial advice on the forum.

I can't see how this would work. I would expect the rental income to be treated as income for the ESA(IR), if your not living in the property then it becomes an asset and would count against the £16,000 limit and I suspect that the SMI would be stopped for similar reasons.

AS I said get face to face advice before proceeding.

Gordon

Nothing on this board constitutes legal advice - always consult a professional about specific problems

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