Filling out Form MI 12

gsdgeorge

Hi

Could somebody please answer

Having trouble filling out this form!

I have been given a MI 12 mortgage interest form as I am on a joint claim for JSA income based. I remortgaged to my lender 2yrs ago. how far back do I need to go with details as I originally bought my 1999.

Thanks in advance

Debbie

cattie

You only need to put the details of your current mortgage down as this is what the interest payment is based on. So only the last 2 yrs is relevent.

zappster1966

Correct me if I'm wrong ... am always happy to fall on my sword.

cattie wrote: »

You only need to put the details of your current mortgage down as this is what the interest payment is based on. So only the last 2 yrs is relevent.

Apologies for butting in but I'm wondering if that's entirely the case.

You're right to say for the OP to complete the forms with the current lender details, mortgage account number etc. The lender will complete the rest of the form but they should also flag this one as a re-mortgage case.

By doing so the DWP will make more inquiries of the OP regarding the original mortgage.

If it's a straight change of lender for the purposes of securing a better interest rate then the OP should be fine. However if it's a re-mortgage with additional borrowing the DWP may limit their help to that of the first mortgage ... plus any additional lending used for the purpose of making vital improvements to his/her home.

Like I say, apologies if the rules have changed recently & if I haven't kept up to speed. But I think the way I've mentioned is how DWP will proceed.

NASA_2

I dont know uch about mortgage help but I do know that redemption certificates are at least sometimes asked for where there has been a remortgage. Like Zappster says though - its ususally when the MI12 comes back from the lender that that happens.

deb0020

gsdgeorge wrote: »

Hi

Could somebody please answer

Having trouble filling out this form!

I have been given a MI 12 mortgage interest form as I am on a joint claim for JSA income based. I remortgaged to my lender 2yrs ago. how far back do I need to go with details as I originally bought my 1999.

Thanks in advance

Debbie

You do not have to give more than the basic information on the MI12. The mortgage section for JSA will write out to you and ask for more information. They will need to know the original amount used to purchase the property and why you remortgaged. If you remortgaged for more money they will need to know what the money was for.

If you can give all the information on the MI12 it will make processing your mortgage a lot quicker as they will then not need to contact you (unless there is other info required eg joint mortgagee who is not a partner or Mortgage protection policy in payment)

The original amount used to purchase the property is allowable up to £100,000.00/£200,000.00 (depending on whether you come under old rules or new rules).
Also certain home improvements are allowed. Others are not.

Link to the regs:-

http://www.dwp.gov.uk/publications/dwp/dmg/pdf/ch23.pdf

see 23575 part 2