The Department for Work and Pensions (DWP) is handing £812 payments to households on these benefits.
The Department of Work and Pensions is offering a financial lifeline to households this winter, with £812 payments available through a lesser-known benefit called a Budgeting Advance. This initiative aims to assist UK families in managing unexpected costs, such as urgent car repairs, boiler replacements, or the sudden breakdown of essential appliances like fridges.
Eligible claimants for this support include those receiving Universal Credit, Income Support, Pension Credit, or Jobseeker's Allowance. The advantage of a Budgeting Advance is that, unlike bank loans, it is interest-free, although recipients are required to repay the amount over time. To qualify for a Budgeting Advance, individual earnings must be below £2,600 over the last six months, or £3,600 for couples. The minimum advance is £100, with maximum amounts set at £348 for single claimants without children, £464 for couples without children, and £812 for those with children, reports The Express.Applicants must also have less than £1,000 in capital, meaning any savings above this threshold will reduce the advance accordingly.
Jobseeker's Allowance claimants often utilise budgeting advances to aid in their job search, such as purchasing train tickets for interviews. Citizens Advice highlights the usefulness of this loan, stating: "You might be able to get a loan as part of your Universal Credit if you need to cover a specific expense - this is called a 'budgeting advance'."
"If you get a budgeting advance, you'll get reduced Universal Credit payments until you've paid off the amount you borrow. This will normally be over 12 months."
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