Redundacy and Mortgage Interest Supplement

J

jimmyd

Registered User
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Just looking into the future with this question incase of job loss.

I have saving of 20K in bank and 10K in credit union.
No loads except Mortagage of 120K

Live alone.

Are I entitled to Jobseekers Allowance or jobseekers benefit ?

I am working for the last 10 years but was unemployed for 2 months in 2007 and claimed for those 2 months, I am in my current job since 15th november 2007 so roughly 62 week working again.

Reading up if I get jobseekers benefit it's €204.30 per week and not means accessed where as
Jobseekers Allowance is €204.30 but means acessed so with my savings I would I lose €10 of that leaving it at €194.3 - Is this correct?

Also since I have a mortgage I would be entitled to Mortgage Interest Supplement -I know I would have to pay €18 towards the mortgage interest and then that it is then means accessed so I would have to pay an extra €40 towards it, Looking online at my bank account every 3 months I am charged €1,228.47 interest on my mortage so this would be €409.49 monthly interest so would I get €409.49 - €18 - €40 = €351.49 of Mortgage Interest Supplement monthly?
 
In relation to the mortgage interest supplement, your figures appear to be accurate.

The other factors that would affect entitlement are

- what was the mortgage taken out for? If the mortgage wasn't taken out to purchase the principal residence (e.g. taken out to buy a holiday home, car, holiday, consolidate other loans), then it won't qualify for a supplement
- could you afford the mortgage at the time you took it out? If, for example, a person took out a mortgage while unemployed and could not afford it, it won't qualify either.
- are there any other people residing in the house who have an income (spouse, partner, adult children?). If so, their income will be means-tested as well.
- if the monthly interest is considered "reasonable" - this is a bit of a grey area, but many areas link it to the maximum rent limits which apply in the county you live in.
 
In relation to
How do I qualify for Jobseeker’s Benefit (‘stamps’) payment?
First of all, you must have 2 years PRSI paid: 104 weeks contributions. Then, you must have at least 39 weeks paid or credited in the governing year. In 2008, this is 2006 and from Jan 2009, this will be 2007. You must be looking for full-time employment, as well as being capable of and available to work.

As I have said in my orginal post, I was unemployed for 2 months (Sept and Oct) in 2007 so does this mean I would not get Jobseekers benefit? and I would get Jobseekers Allowance? Or does it mean I would only get Jobseekers benefit for the 9 months?
 
If you worked for 10 months, then you probably have 39 weeks paid contributions for 2007. In any case, if you signed for Jobseeker's at the time, you'll have received credits for each week you signed on, so you should have no problem meeting the 39 weeks rule.
 
gipimann said:
In relation to the mortgage interest supplement, your figures appear to be accurate.

The other factors that would affect entitlement are

- what was the mortgage taken out for? If the mortgage wasn't taken out to purchase the principal residence (e.g. taken out to buy a holiday home, car, holiday, consolidate other loans), then it won't qualify for a supplement
- could you afford the mortgage at the time you took it out? If, for example, a person took out a mortgage while unemployed and could not afford it, it won't qualify either.
- are there any other people residing in the house who have an income (spouse, partner, adult children?). If so, their income will be means-tested as well.
- if the monthly interest is considered "reasonable" - this is a bit of a grey area, but many areas link it to the maximum rent limits which apply in the county you live in.
Click to expand...

Mortage taken out for my principal residence
Well able to afford it while working as its just 1 weeks wages so 1/4 of my monthly salary.
No one else in the house only myself.
Monthly interest would be around €410 so that shoudl be ok I'd say

Thanks gipimann
 
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