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  • FIRST POST
    • Mollydog1
    • By Mollydog1 6th Jul 17, 1:18 PM
    • 3Posts
    • 1Thanks
    Mollydog1
    Dwp interest only
    • #1
    • 6th Jul 17, 1:18 PM
    Dwp interest only 6th Jul 17 at 1:18 PM
    Hi All. I share a mortgage with a friend. Its currently interest only mortgage. I was thinking of applying to The DWP to pay the standard amount of interest of my part of the mortgage. MY friend works im on benefits due to ill health. Someone told me, if i eventually want to change over to normal mortgage payments, i would have huge difficulty doing this, because i was getting help from DWP. does anyone know if this is true, or can be of assistance in what i can do, or has been through similar.
Page 1
    • fatbelly
    • By fatbelly 6th Jul 17, 10:48 PM
    • 10,934 Posts
    • 8,149 Thanks
    fatbelly
    • #2
    • 6th Jul 17, 10:48 PM
    • #2
    • 6th Jul 17, 10:48 PM
    I can't follow what you think the problem might be.

    If you qualify for it, apply

    https://www.gov.uk/support-for-mortgage-interest/overview
    • Thrugelmir
    • By Thrugelmir 6th Jul 17, 11:07 PM
    • 54,303 Posts
    • 47,095 Thanks
    Thrugelmir
    • #3
    • 6th Jul 17, 11:07 PM
    • #3
    • 6th Jul 17, 11:07 PM
    Hi All. I share a mortgage with a friend. Its currently interest only mortgage. I was thinking of applying to The DWP to pay the standard amount of interest of my part of the mortgage.
    Originally posted by Mollydog1
    Unfortunately you don't share a mortgage. You are both jointly and severally liable for the mortgage. As far as the lender is concerned there are no shares.
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
    • Dandytf
    • By Dandytf 7th Jul 17, 9:37 AM
    • 660 Posts
    • 290 Thanks
    Dandytf
    • #4
    • 7th Jul 17, 9:37 AM
    • #4
    • 7th Jul 17, 9:37 AM
    I considered the dwp mtg interest option a few months ago as I have ms

    39 weeks for new applications for this type of help from dwp

    Which is why I didn’t bother if it wasnt 39 weeks I would have gone the esa and mtg interest help route
    sc dmp 2012 13k

    Jan 2017 7380 paid. 50% ish...
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