I want to apply for pension credit. I have a pension of £118 per week - my partner has a very small pension of 30p a week. I understand we can can make it up to £202.00. But I have a third share in a property consisting of a shop and a flat which is in mortgage. I do not receive any income at all from this property as all the rent goes towards the mortgage. I estimate that my share of the property would be about £50,000 if the property was sold. Is it true that we would not be able to claim pension credit having this amount as a so called investment? If so, what are we supposed to live on?
I want to apply for pension credit. I have a pension of £118 per week - my partner has a very small pension of 30p a week. I understand we can can make it up to £202.00. But I have a third share in a property consisting of a shop and a flat which is in mortgage. I do not receive any income at all from this property as all the rent goes towards the mortgage. I estimate that my share of the property would be about £50,000 if the property was sold. Is it true that we would not be able to claim pension credit having this amount as a so called investment? If so, what are we supposed to live on?
Any advice would be appreciated