JSA Means Test calculation

8

8ball

Guest
Hi all,
First time poster!
If the value of a property i own which is not for my personal use is being taken into account for the means test calculation, say at a value of 100K will social welfare take into account any mortgage i have on this property?
E.G Property value 100K minus 60K Mortgage equals 40K means test value.

any help would be appreciated.

Thanks
8ball
 
First timer here too. What happens if the mortgage is secured against the family home and used to purchase a second property? The only reason to do this was to get the lowest interest rate on a mortgage. It is still the same family, the same property & the same purchase price - just a better value mortgage. The mortgage is secured on one building rather than the other. It just made good sense.
 
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