Repossesions threat as Government reduces home owner support - Telegraph

PasturesNew

As I understand it, there are two separate mortgage payments one could theoretically claim... although it's all a bit murky.

I think if you don't have kids you can shove off, under one of the schemes.

Before they changed the rules recently, you had to go 39 weeks on the dole before you could claim an amount for your mortgage interest - and that'd be specifically at your rate of interest.

This new way of doing it is all a bit hard to fathom out ... but I am disgusted that they pay one high flat rate to everybody who can claim it ... giving money away hand over fist when there's no need.

treliac

PasturesNew wrote: »

As I understand it, there are two separate mortgage payments one could theoretically claim... although it's all a bit murky.

I think if you don't have kids you can shove off, under one of the schemes.

Before they changed the rules recently, you had to go 39 weeks on the dole before you could claim an amount for your mortgage interest - and that'd be specifically at your rate of interest.

This new way of doing it is all a bit hard to fathom out ... but I am disgusted that they pay one high flat rate to everybody who can claim it ... giving money away hand over fist when there's no need.

It's being drastically reduced come October.

michaels

Why do they pay a one size fits all rate rather than the actual interest bill?

chucky

michaels wrote: »

Why do they pay a one size fits all rate rather than the actual interest bill?

it's probably cheaper to administer than checking out each and every mortgage deal for each person and adjusting the payments each time rates change.

it would need a lot of work

Damaged

chucky wrote: »

it's probably cheaper to administer than checking out each and every mortgage deal for each person and adjusting the payments each time rates change.

it would need a lot of work

I cant see how it could be to be honest, the checking would be needed to see if they actually need the support. How much is paid could be provided simply by the mortgage deal or statement.

michaels

Exactly - I am sure the administration could just be pushed on to the mortgage company who could easily save the costs by not having to write arrears letters to the borrower etc.

Damaged wrote: »

I cant see how it could be to be honest, the checking would be needed to see if they actually need the support. How much is paid could be provided simply by the mortgage deal or statement.