Lone Parent - Treatment of Investment Property

[Fifitrix]

I will shortly be applying for Lone Parent's Allowance. I have printed off the various forms/leaflets on the website but am still unsure as to how they treat an investment property.

I bought a property 4 years ago for €201,000 as an investment for my retirement as a pension as I dont have/want a pension. The property is now worth about €150,000/€165,000 based on similar properties on the road advertised on Daft. I cant sell it due to negative equity and wouldnt want to either as I bought it for the longterm.

The mortgage on the property is just short of €700 and is rented out for €600 a month - agent's fees. How exactly do they calculate this in terms of means??

Any help would be greatly appreciated.

Also do they want to see your bank statements? Do they ask for all accounts or just one specifically as I am setting up an account to look after baby expenses.

 

[gipimann]

The means from an investment property are determined by the capital value of the property less any outstanding mortgage on it. The rent you receive from the property is not assessed, just the property itself.

When applying for One Parent Family Payment, you are required to submit details of all bank accounts.

 

[Fifitrix]

Thank you !