Frequently Asked Questions

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How is a second house/property treated?

This relates to any additional property owned by the client except for their primary residence. Assuming the additional property is not the subject of the application then if the property is for sale its value may be ignored for up to 26 weeks (or longer if reasonable so to do) as long as reasonable steps are being taken to dispose of it.

If the property is occupied by a disabled or 60 + relative or an ex partner, ignore the capital value and treat any rent paid to the relevant person as income.

Otherwise take the capital value of the property, less 10% towards the notional cost of sale and less any loan or mortgage secured on it. The correct figure can be attained by using the 'Gross Capital Assets to Net Capital' reckoner, in Renovator PC Help screens.

Ref:- Housing Renewal Grant Regulations 1996, Regulation 36(A) and Schedule 4.