Universal Credit: How to get an £812 budget loan on top of a £650 cost of living hike | Personal finance | Finance


Some eight million people will receive cost-of-living payments from July, according to Chancellor Rishi Sunak. Some struggling people may be able to apply for an extra £812 budget loan to help them make ends meet.

Millions of people on Universal Credit and inherited benefits like tax credits will be eagerly awaiting the first cost of living payment to be paid by the Department for Work and Pensions (DWP) in July.

The £650 will be paid in two parts and is designed to help people pay rising energy bills.

However, many Britons are unaware that they can apply for additional financial assistance in the form of a loan or budget advance.

He is worth up to £812 and although he will need to be paid back, payments can be spread over 12 months.

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While around eight million people who receive Universal Credit, Inheritance Benefits and Pension Credit will be entitled to £650, some people will receive different amounts.

All households will receive a cost of living rebate of £400 to be applied towards their energy bills.

Britons on disability benefits like Attendant Allowance will get a one-time extra £150 in September, while pensioner households will get an additional £300 this year.

They will only receive the extra £650 if they also apply for means-tested benefits.

To apply for a loan or budget advance, individuals must leave a note in their work log or speak to their benefits officer.

Benefit claimants may also be entitled to free prescriptions, a reduction on council tax and free or cheaper broadband.

This help is generally available to people applying for Universal Credit, Tax Credits and Pension Credit.

People can learn more about Gov.uk.


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