one parent allowance with money in the bank

im am on one parent allowence and recencently sold my home to move to the country.the money was divided between my ex husband and my self. my problm is social are going to cut me off unless i purchase a home with the money i have in the bank..i am renting at the moment and its not as easy to find a suitable property for me and 2 kids with the amount of money i have.cant get a mortgage.so i feel i am put under a lot of pressure to just puchase any kind of house quickly. any ideas out there. i feel i would be better off if i hadnt any money and just continue renting.

As you probably know One Parent Family Payment is means tested so your share of the proceeds from the house sale are now taken into account.

http://www.citizensinformation.ie/e...hildren/one_parent_family_payment.html#l1f4da

http://www.welfare.ie/EN/OperationalGuidelines/pages/onepfp.aspx

http://www.welfare.ie/EN/Schemes/Bi.../OneParentFamilies/Pages/OPFPChanges_FAQ.aspx

If you want to buy a property would there be anything of interest here?

http://www.citizensinformation.ie/en/housing/owning_a_home/help_with_buying_a_home/

I don't really see how you would be better off if you did not have the money.

thanks. but i have already had a review done and got until november to buy a house.i have checked all of the sites u have recomended . i just thought there might be somthing i was missing.

Consider the risks carefully before committing to buy a house. While you will lose your allowance you will also lose the flexibility the funds will give you. You are unlikely to be eligible for a mortgage and you may well regret the decision when funds get tight.

thanks for the imput. buying a house is not like buying a tv.. just wondering if there was anyone out there in the same boat..have been on one parent all for 4 years.since i separated.only sold the family home because we both could not afford the upkeep mortgage ect....in dublin....i think its just a matter of timing with me.house prices in country more appealing..i,ll just keep looking . thanks

helen6363 said:

my problm is social are going to cut me off unless i purchase a home with the money i have in the bank..

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If anybody said that then they are slightly misrepresenting the situation. You now have a chunk of money in the bank so you presumably no longer satisfy the means test to qualify for OPFP as you use your new means to fund your outgoings. No offence but this is not unreasonable as far as I can see.

If you have money from the proceeds of a sale, and this money is held by your solicitor for the purpose of purchasing a new property, there is a discretion for the deciding officer to disregard the proceeds for 3 or 6 months

See here: http://www.welfare.ie/EN/OperationalGuidelines/Pages/meansassess.aspx#sect1

Note 8:

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Where a person has sold his/her residence and is holding the money pending completion of the purchase of another, a Deciding Officer may decide not to assess the capital for a temporary period and review in 3/6 months to confirm that the purchase was completed.

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You should ask that this discretion be applied to you while you look for a new place.