Do i get any help with my mortgage if im unemployed?

stepp

Hi all

I have a mortgage of around 118,000 and i have had the house 3 years now. My business has hit a really bad patch and me and my partner are thinking of calling it a day.

What i want to know is do the goverment help with my mortgage payment if im unemployed?

Ive not been stupid and i do have mortgage protection cover but i would just like to know what help would i get if any if i didnt have the protection in place.

Cheers

Ted_Hutchinson

Help with Housing Costs Income Support guidance needs careful reading.

Voyager2002

Basically, once you have been in receipt of means-tested JSA for nine months you become eligible for help with your mortgage interest.

PeteB_2000

but you dont automatically get it, I didnt its means tested, my wife works 16hrs a week and that couple with tax credits (we have 3 children) means we didnt qualify as we where over the threshold that the gov has deceided that we need to live on..........was gutted when we found out, ploughed everything we had off the mortgage to stay in the house as its our dream house.

Pete

stepp

I live alone so would i have more chance of claiming then?

northern_star

My understanding is that you have to be claiming benefits for 39 weeks before the state help with mortgage payments - and then it's not the full costs (I think it's interest only but someone more knowledgeable will be able to help on this). However, if your mortgage was taken out before 1995, different rules apply and I think you get help earlier.

I'd check CAB if unsure.

Broken_hearted

Yes it is interest only thats paid and only at a certain rate if your mortgage has a higher rate than the standard, then you have to make up the shortfall and pay the capital amount each month.