unemployment mortgage interest benefit with loans ( Support for Mortgage Interest )

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unemployment mortgage interest benefit with loans ( Support for Mortgage Interest )

Post by Admin on Wed Jul 26, 2017 3:24 pm

https://skwawkbox.org/2017/07/25/govt-replaces-unemployment-mortgage-interest-benefit-with-loans/

One of numerous things the Tories are doing that have received little media attention is a hard kick aimed at mortgate-payers who lose their job. Up to this month, people with a mortgage who become unemployed receive SMI – ‘Support for Mortgage Interest’ to help them not to fall behind on mortgage payments. It’s a limited benefit, paid on up to £200,000 of mortgage debt (£100k for pension credit recipients), only covers the interest portion of mortgage repayments – and doesn’t begin until 39 weeks after a claimant applies for unemployment benefit, so managing for almost the first ten months of unemployment is left to the person who has lost their job. But now the government is piling even more of a burden on people already hit hard by losing their job:. wrote:

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