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

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.

READ MORE: ‘Distraught’ woman in tears after crooks steal £97,000 inheritance

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