MSE News: Support for mortgage interest benefit cut by thousands

dragon_mama

InMyDreams wrote: »

But you didn’t have to. No one forced you. You could have rented which would have been safer. You chose to buy because you believed the returns would be greater in the long run. That's not make any judgement on whether at the time this was a wise decision or not. No one has a crystal ball.



That is no different to getting help towards the interest of any unsecured debt should you fall onto tough times. But at least with a secured debt, you have the option of selling the house and paying (at least some of) the money back. This is generally not even an option for unsecured debt. Why should you not have to pay the interest on money you have borrowed?




But you did know this before you took on the mortgage. You still chose to go ahead. This forum is full of would-be buyers who refuse to listen to these very real risks, thinking that if others can buy a house they so can they. The more they see people with mortgages doled out of trouble, the more they don’t believe the risks, the more they are prepared to pay for their house because they feel the states owes it to them to dole them out.



I really do feel for you. It is sickening to have worked hard all your life and feel like you have had the rug pulled out from under you and your family. And to see other people who you see as less deserving getting more assistance than you.



As I suggested before though, helping people with rent is not propping up the over-inflated housing market that is partly responsible for causing so many problems in the first place. From the state’s point of view, looking at it long term, paying someone an amount towards their rent must be more cost effective than paying someone the same towards their mortgage.

I agree with the above my husband & I took our mortgage when we were both working sice then,my husband has become ill & I was made redundant & am now a carer for my mother who has dementia,We only found out about the reduced rates when we went to pay.No letter sent advising us,& mortgage co (bank) upset that contract DHSS set up in March changed without notification to them,Ihave worked & paid taxes the last 40 years plus.

dazzammm

If you are affected at this then join our campaign group on facebook
http://www.facebook.com/SMICUT
The current news is some people have not received notification from DWP and dont know they have been affected by the cut until their lender calls telling them they are £100s in debt !!!

chloew1

help anyone we have just got a letter from work and pensions to say we will have to find £200 a month for are mortgage which by the way is a intrest only mortgage out of £105 a week for me and my husband the only thing we will get is council tax we also got another letter at the same time to say it is going up by £6 but it said on top of the letter the law says we should get £154 less £48 smi which leaves us with £105 so my point is when the smi is no longer paid we will have to pay the £48 out of £105 joke mission impossible so you just get kicked in the teeth every way if i rented private PAID if i rented council PAID

DannyboyMidlands

So why not just sell the house and rent privately? Rent paid, council tax paid, job done.

foreversummer

sophievenusdoom wrote: »

Presumably you also wanted something to leave to the kids, and also have an asset (which is why most people take out a mortgage).

You've made quite a few assumptions during the course of this thread, some very hurtful but this is one of the most ridiculous!

You are obviously very bitter.

chloew1

i do not see why i should sell i worked all my life to keep my house paid my taxes for 40 years max

The_Road_Warrior

I don't mean to be blunt here but it is either sell up or you get repo'd! What you've paid in tax has naff all to do with what you owe to a bank!

poppy10_2

chloew1 wrote: »

i do not see why i should sell i worked all my life to keep my house paid my taxes for 40 years max

I've worked all my life too, the government isn't buying me a house. Why should they pay for yours?

chloew1

I am not asking anyone to buy my house oh my god i only asked if anyone know if i could get help i wished i had not bothered you are luckey you can pay for your house so please do not comment if you are not faceing looseing your home