Does Dss help with mortgage?

losing_it_all

Hi all,

Does anyone know if the dss help people struggling to pay mortgages due to low income?

thanks

PasturesNew

There is a benefits board that can be more knowledgeable.
http://forums.moneysavingexpert.com/forumdisplay.html?f=139

There you will be pointed to a calculator for benefits http://www.entitledto.com

Your question doesn't contain enough detail about circumstances/history.

Overview though is if you have a job and are earning/have an income, then there's no help for mortgage payers.

The only help available is if you're on benefits and after 39 weeks they will pay the interest only of the first £100k (I think). This will be reduced to 13 weeks of being on benefits from April 2009 (I believe).

So, no, if you have a low income, there would generally be no help with your mortgage.

That is the stock answer without knowing any details. Try the benefits board: http://forums.moneysavingexpert.com/forumdisplay.html?f=139

Hectors_House

I don't believe so.

There should be help to pay the interest part of the mortgage if you lose your job but, I believe this can be withheld if the person is found to have done something that caused them to be sacked (rather then having been made redundant).

poppy10_2

Not for low income - if you lose your job there is some assistance with meeting itnerest payments, but only after a lengthy period - 39 weeks at the moment, although that is due to be cut to 13 weeks next year.

Have a look here for some advice:
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DG_10013261

Hectors_House

Good advise there from PasturesNew.

And even if you have no other debt the Debtfreewannabe board give excellent advise about ways to cut back on the costs of living generally.

We can also hope that the govt is looking at helping those on lower wages by making more tax credits available in these difficult times.

dmg24

PasturesNew wrote: »

There is a benefits board that can be more knowledgeable.
http://forums.moneysavingexpert.com/forumdisplay.html?f=139

There you will be pointed to a calculator for benefits http://www.entitledto.com

Your question doesn't contain enough detail about circumstances/history.

Overview though is if you have a job and are earning/have an income, then there's no help for mortgage payers.

The only help available is if you're on benefits and after 39 weeks they will pay the interest only of the first £100k (I think). This will be reduced to 13 weeks of being on benefits from April 2009 (I believe).

So, no, if you have a low income, there would generally be no help with your mortgage.

That is the stock answer without knowing any details. Try the benefits board: http://forums.moneysavingexpert.com/forumdisplay.html?f=139

Yep, that's correct, apart from the thirteen week rule is now to start in January (though they are keeping it very quiet!), and the limit will be raised to £175K.

losing_it_all

Thank All.

Looks like I am not entitled to help.

How long do you guys feel the base rate will remain low? as long as 2014 maybe?

Thanks

Losing it all

tinkerbell84

losing_it_all wrote: »

Thank All.

Looks like I am not entitled to help.

How long do you guys feel the base rate will remain low? as long as 2014 maybe?

Thanks

Losing it all

Not a hope. Look forward to them rocketing in c2010

rinkydinkpanther

dmg24, where is your info about the 13 weeks starting in January from ? My brother has recently lost his job, and this would make a big difference to him !

sandraroffey

have you asked for a payment holiday?? your lender willmost prob be very undrrstanding. my son in law was paying interest only for two years then got a aymetn holiday that stretched to a year. you can only ask!!!xxxx

PasturesNew

rinkydinkpanther wrote: »

dmg24, where is your info about the 13 weeks starting in January from ? My brother has recently lost his job, and this would make a big difference to him !

It's most likely going to be for people who lose their jobs after the start date, not before. I'd imagine.

That's how things tend to happen.