Universal Credit claimants will get a monthly payment that is tailored to their circumstances. This payment should cover all of the claimant’s essentials such as rent and food.
So long as the claimant is eligible, the minimum they could borrow is £100.
Beyond this, single claimants could get £348.
This rises to £464 if the claimant is part of a couple and the highest amount could be £812 if the claimant has children.
The amount awarded will be dependent on whether that claimant has savings of over £1,000 and can pay the loan back.
Universal Credit can be applied for initially by most people who have fallen on financially hard times.
There are some eligibility rules in place and a person must tick the following boxes to be eligible:
- They’re on a low income or out of work
- They’re 18 or over (although there are some exceptions for those aged 16 or 17)
- They’re under state pension age
- They have less than £16,000 in saving between them and their partner
- They live in the UK
Published at Wed, 24 Jun 2020 10:34:00 +0000