URGENT Changes to Morgage Interest Support [merged]

Tara100

I only found out today that my mortgage interest assistance will be slashed from £120 to £65 per week from 25th September. I feel totally sick with worry as I have no means of finding the shortfall of £55 per week whilst on ESA.
If I were in rented accommodation, and claiming HB, the weekly assistance would be more than £65.00 per week, so it hardly seems a fair system.

It looks like I will have my home repossessed as my mortgage lender isn't going to let me off the hook......

dave030445

It seems a hard pill to swallow how can they think that this is going to help loads of people will be at the councils door looking for rented property and rent round here is about £1200 which they would pay.

TOBRUK

I agree, I really don't think that they have thought this out properly and they are not living in the real world! They are going to tackle the rental too and cutting housing benefit which will also create problems.

dave030445

Went the the CAB today to see if anything can be done and they wernt much help all they said was can you cut your outgoings to find the shortfall how they think you can cut back my nearly £400 a month when your on benifits is beyond me.

[Deleted User]

dave030445 wrote: »

hi just got the letter this morning saying it was going to drop I'm now at a £80 a week short fall on my mortgage interest how am we to pay the money. The mortgage company weren't any help they just said it needs to be paid. I'm on ESA and my wife gets carers allowance for looking after me. How can they do this we have no way of paying this extra money. We are going to loss are house over this so then a disabled man his wife and 3 young children will be homeless is this fair. haven't told the wife yet things are bad enough already

have you asked your lender if you can convert to an interest only mortgage for a period?

[Deleted User]

Ive requested that this sticky be locked now as its become a discusion when it was intended as a piece of important information.

sonianorman38

hi

don't know if you can help. i split up with hubby yesterday, hope to stay in my house but have an investment mortgage that is in negative equity by £15k. the CAB weren't sure but thought i might not be able to get benefits because of it and said i would probably have to sell it. can't sell it cos i don't have £5k and neither does ex. if i can't get income support or anything we won't be able to live. I have 2 kids. thanks sonia

dave030445

Why should this be lock its only peoples views on a subject. And people trying to give advice. I cant see that there is any thing wrong with that. I think we will get more people in the same boat, as the week goes on. And this is just the place for them to express they views, and what they are going to do.

dazzammm

OK. this is not a rant.
I think I got my letter today but its hard to tell. I got a letter on SMI AND a letter on my JSA.

it says the cost of living has gone up by £60 which is now roughly the amount I am now getting in SMI.
it seems they have recalculated the cost of living to INCLUDE SMI whereas it didnt previously.
It also says that my entitlement based on class 1 NIC has come to an end but no mention as to the impact of this.

there is NO mention that the resulting SMI £50 a week cut was due to any changes to SMI rates. and I like many other pay MORE than the 3%ish interest. (see posts on Standard life treatment of its customers now it has given up on mortgages).

does this sound like its due to the rate cut ???

dmg24

woodbine wrote: »

Ive requested that this sticky be locked now as its become a discusion when it was intended as a piece of important information.

I contacted Abuse this morning to ask them to delete the off topic threads, but still no joy.