Are you renting privately?

It sometimes pays to run your equity down to the point at which you do qualify for HB and CTB. You need to be discrete how you do it, but if you decide to move to anew property, carpets, curtains and furniture would be reasonable expenditure, as would replacing your car and a couple of holidays, but avoid world cruises costing £20,000 or more .

If you prefer to let your equity run down slowly over the years then you can claim HB and CTB as soon as you qualify.

You can get a bigger flat than one bedroom, and get HB etc, but you will be expected to pay from your income the rent attributed to the extra bedroom(s).

Lona - I went back on the benefits site, if towards the end of my money I rent a one bedroom property, I am eligible for housing benefit.

smurf I'm in the same position as you, have enough money to last about ten years if I'm very careful!
It's hanging over me like the sword of Damocles!

Oh dear I won't qualify for benefits as I have too much equity.

www.entitledto.co.uk/
This is a really good benefits checker website. If you are pension age you are allowed £10000 before its taken into consideration for benefits purposes. If you are getting guaranteed pension credit then this is what's called a passported benefit an it automatically entitles you to other benefits such as housing benefits. I really think you would benefit from some 1 to1 benefits advice now so that you don't end up realizing years later you spent money you didn't need to as housing benefit would have covered it.

Have a look at sheltered accommodation now. A lot I now available from the age of 55. If you're paying rent you may as well get the extras they provide. The payment to the local place we're looking at includes the utilities as well as the rent so you only have to find the council tax as an extra. That means that no matter how cold it gets in winter you will never have to worry about heating.....you can just bang it on because the bill is already covered. You still have all the freedom of your own place but there is support there should you ever need it.

Depending on your income you may be entitled to Housing Benefit now. Look on your local site - you are allowed to gave some savings and still get it but I have no idea how much you are allowed. Some years ago I researched a site to see if a relative would qualify for payment - it is quite generous amount you are allowed to keep.

If the money did run out, you could be entitled to Housing Benefit, depending on your income.