Common use of Outgoings on Former Home Clause in Contracts

Outgoings on Former Home. (a) If the principal and any dependents are occupying temporary accommodation at the new location (and the principal receives a rent subsidy), pending the sale of the former home and the purchase of another, then interest, rates and insurance on the former home shall be taken into account while it remains unsold and unoccupied. In these circumstances, the outgoings on the principal’s house may be added to the rent of the temporary house, and the subsidy calculated on the combined total. Only mortgage interest may be included, not loan principal repayments, and this will usually require inquiry, as outgoings quoted by claimants almost always include installments of loan principal.

Outgoings on Former Home. (a) If the principal and any dependents dependants are occupying temporary accommodation at the new location (and the principal receives a rent subsidy), pending the sale of the former home and the purchase of another, then interest, rates and insurance on the former home shall be taken into account while it remains unsold and unoccupied. In these circumstances, the outgoings on the principal’s house may be added to the rent of the temporary house, and the subsidy calculated on the combined total. Only mortgage interest may be included, not loan principal repayments, and this will usually require inquiry, as outgoings quoted by claimants almost always include installments instalments of loan principal. If a principal is required to rent a house at the new location before liability for rent at the previous location has ceased, resulting in the payment of double rent, a rent subsidy equal to the lower of the two rents may be paid.

Outgoings on Former Home. (a) If the principal and any dependents dependants are occupying temporary accommodation at the new location (and the principal receives a rent subsidy), pending the sale of the former home and the purchase of another, then interest, rates and insurance on the former home shall be taken into account while it remains unsold and unoccupied. In these circumstances, the outgoings on the principal’s house may be added to the rent of the temporary house, and the subsidy calculated on the combined total. Only mortgage interest may be included, not loan principal repayments, and this will usually require inquiry, as outgoings quoted by claimants almost always include installments of loan principal.