DWP investigation, house value in 2003

Kikki21

Registered User
Feb 27, 2016
2,248
East Midlands
The DWP are investigating my mum’s estate in particular now they are concentrating on the Pension Credit aspect in the last year of her life where she was living in the care home.
I believe that she was still entitled to receiving her Pension Credit but I’m concerned that her savings were over the £10k threshold but that there isn’t any upper limit only that they use a value of a £1 for every £500 you are over if I have read that correctly.
They also wanted to know the value of her bungalow in 2003. I have looked at houses sold in her street but I cannot find an equivalent value house. I’m not sure why they are asking this but in any case her estate was well under the Inheritance Tax threshold.

Can anyone throw any light on this please?
 

Louise7

Registered User
Mar 25, 2016
1,613
I believe that she was still entitled to receiving her Pension Credit but I’m concerned that her savings were over the £10k threshold but that there isn’t any upper limit only that they use a value of a £1 for every £500 you are over if I have read that correctly.
You're correct in that every £500 over the £10k threshold is valued at £1 - this is deemed to be a 'tariff income'. Eligibility to Pensions Credit is based on having an income of less than £167.25 weekly (currently) so if the 'tariff' income from savings takes the total income over the £167.25 eligibility limit then pensions credit would not be payable. Whether your Mum was entitled or not will depend on the amount of income she was receiving plus any 'tariff income' from savings over £10k.
 

Kikki21

Registered User
Feb 27, 2016
2,248
East Midlands
You're correct in that every £500 over the £10k threshold is valued at £1 - this is deemed to be a 'tariff income'. Eligibility to Pensions Credit is based on having an income of less than £167.25 weekly (currently) so if the 'tariff' income from savings takes the total income over the £167.25 eligibility limit then pensions credit would not be payable. Whether your Mum was entitled or not will depend on the amount of income she was receiving plus any 'tariff income' from savings over £10k.
Thank you - it all sounds very complicated! My mum didn’t have any other income from a pension or anything like that & she was 90 when she died.
 

Jessbow

Registered User
Mar 1, 2013
2,947
West Hertfordshire
Was your late mothers entire income her state pension and nothing else at all? No other benefits or income from other sources?

Mouseprice website may help you establish what similar properties sold for in any particular timeframe
 

Kikki21

Registered User
Feb 27, 2016
2,248
East Midlands
For definitive price paid data use
http://landregistry.data.gov.uk/app/ppd/


If you search by more that the first part of the post code leave a space before the second , maybe truncated , part else the site will not recognise it.
Thank you - I’m not sure why the date of 2003 is relevant. The bungalow was jointly owned by my parents who bought it in 1969. Then when my dad died in 2000, the ownership passed to my mum. The mortgage was paid on it very early on so it was never put up for sale until this year, can you throw any light on that at all @nitram?
 

Starting on a journey

Registered User
Jul 9, 2019
79
I would ask the DWP why they need the valuation; they should ask the valuation agency themselves. Perhaps your mum had an earlier claim and received mortgage assistance? There is nothing in what you have written that suggests the property was anything other than her main home. Did she have another place to live at any time? Don't forget that benefits and inheritance tax use different rules which for many purposes are totally unrelated.

I would ring and ask for an explanation.
 

Kikki21

Registered User
Feb 27, 2016
2,248
East Midlands
I would ask the DWP why they need the valuation; they should ask the valuation agency themselves. Perhaps your mum had an earlier claim and received mortgage assistance? There is nothing in what you have written that suggests the property was anything other than her main home. Did she have another place to live at any time? Don't forget that benefits and inheritance tax use different rules which for many purposes are totally unrelated.

I would ring and ask for an explanation.
The mortgage was paid off in the late 1970’s/80’s I believe so no mortgage help required & it was her only property. I’m mystified as to why 2003 is relevant. I think I do need to ring them & ask!
 

notsogooddtr

Registered User
Jul 2, 2011
907
DWP operates in mysterious ways,ringing them is definitely the best idea.I hope you can make sense of the explanation!
 

Kikki21

Registered User
Feb 27, 2016
2,248
East Midlands
DWP operates in mysterious ways,ringing them is definitely the best idea.I hope you can make sense of the explanation!
As I thought as I’m not the executor, they won’t speak to me. The executor has to give them written permission & all my details. I’m not sure whether he will do this but my concern is that he doesn’t know facts as I do or issues about the house or my mum so it will just take longer to sort out.