# inheritance for person on Social welfare



## rustyjack (4 Jul 2015)

Hi,

a friend of mine may get up to 100,000 from inheritance when her father passes away. She knows she is very fortunate to be receiving such a sum.
she is on social welfare and will be for a while and what she really needs is a house.

is there anyway for her to get a loan from a bank or credit union or cork city council to get approx 50000 loan or mortgage?

If she does not get loan she is worried the 100k will actually reduce her weekly income due to means test of social welfare.

she could think to buy apartment in cork city but she has a young child and two dogs so would like a garden. she has 20,000 saved already so she thinks she can get a small house for around 170k.

I hope this post is in the correct forum.
Any advice appreciated!

Thank you
rusty


----------



## Vanilla (4 Jul 2015)

I don't think it is in the right forum, really should be in the mortgages/house buying forum, your question is one of whether she will get a mortgage, not on wills, inheritances etc. Because she is right, a lump sum in the bank will be taken into account in means tested social welfare. Whereas your home, as long as you are not getting an income from it, is disregarded for the means test.


----------



## Monbretia (4 Jul 2015)

A bank is not going to give a mortgage to someone on social welfare, credit unions do loan to people on SW but unlikely to be able to borrow that much depending on the income.  Even if she could get the loan with maybe a guarantor realistically the payments might be too much on a social welfare income not to mind the costs associated with owning a home, property/water charges, insurance etc.


----------



## rustyjack (6 Jul 2015)

Thanks very much for replies.


----------



## John Walsh (4 Mar 2017)

When you buy a house even with the lowest 10% cash deposit revenue will ask where you got the money .


----------



## Audi_Driver (30 Mar 2017)

W


John Walsh said:


> When you buy a house even with the lowest 10% cash deposit revenue will ask where you got the money .




When was this introduced?

Just curious as I never heard of this before.


----------



## Monbretia (31 Mar 2017)

I bought a house in 1991 and got a letter from Revenue about the deposit so it's nothing new but maybe not on every transaction, something probably triggers them to ask.


----------



## John Walsh (15 Apr 2017)

Audi_Driver said:


> W
> 
> 
> 
> ...



My house purchase goes back to 1987 and 15% was the deposit . You could bite the bullet and if tax was paid  simply state its an inheritance .You are already on record as having received this money by Revenue . The interest on your bank /financial institution account will also show if a data check is done. The Revenue will however see that you are not in employment and whether any action is taken may be down to who is dealing with it .


----------

