Mortgage Interest Benefit Claim Form MI12

TomMa_2

I've recently had a run in with an MI12 form as doubtless a lot of other people have and been faced by the news that only the amount of lending that you can proove was used for the original house purchase or work carried out on the property attracts the limited assistance.

I look like being hit by the news that even with a mortgage thats lower than the rents in the locality, I'll get almost no help. The reason being that after everything is deducted that ended up on my mortgage over the years that didn't relate to the property and they calculate the interest on what remain within the interest cap of 3.65% the monthly figure will be tiny. To try to redress the issue my MI 12 lists the cost of every job I've had done in my home since I moved in at current commercial rates & the purchase price of the house, with a total at the bottom of the list. Lets see what they make of that.

Lots of people have used the security of their home to raise money to ensure that their families are financially independant, helping to get their kids through education or into homes of their own or to put money into their work to get company's through the recession. Only to find out that all they've done to be independant working families supporting state benefits through the tax system has led to the state leaving them high and dry as soon as they need the help they've supported for other people. I have a circle of friends who, rent homes at the tax payers expense at far greater cost than my entire mortgage let alone the interest on it and it appears the system is pushing me to join them.

Why can't they just give help to family's in mortgaged property upto the limit set for families in rented property in the same circumstances?

elmer

I thought that happened to andyandflo, and he committed suicide didnt he?

[Deleted User]

elmer wrote: »

I thought that happened to andyandflo, and he committed suicide didnt he?

t`was only cyber suicide :rotfl:

tcr_3

Perhaps you'd care to list your additional borrowing & we can try to figure out what, if anything, the DWP might make a contribution towards ?

As you know, DWP will only help with interest on the original sum used to buy your home plus additional borrowing used to maintain the fitness of your home for human habitation.

They'll obviously not contribute towards interest on that part of your borrowing used for private schooling, cars, holidays & all the rest ... it's not reasonable to expect the state to chip in towards that ... that's what private insurance policies are for.

welshmoneylover

goffo wrote: »

For a start you may be on a loser with the work that you have carried out. Unless it was for one of the recognised reasons and that you have an invoice to show that you paid a builder to do the work, I don't think that your idea will work.

Yes a lot of people are losing their homes because of this.
Tough I know, but fair. Why should the state pay the interest on monies borrowed to fund a lifestyle?

I have a friend that took quite a bit of equity out to start a business that folded after 12 months. He thought he was doing the right thing instead of claiming benefits whilst unemployed - he was using the loan to live off and pay the repayments. When it had all gone, and then his business closed, and he had to claim JSA.
He can't get help for any of that.

Likewise, people borrow money out of the home to buy a new car and trips abroad - is that right that the interest is covered for that?

Worst case is borrowing the money (£100,000) off a friend to help buy the house because the mortgage was slow in coming through. Moved in and two weeks later the mortgage money was in the bank. Repaid the friend.
None of the interest on that mortgage is allowable either.
Why? Because the house was already owned and the mortage was treated as a release of equity.

And you think you have problems?

Hello Andy :T

Nice to see you are alive and well :A

Jowo_2

woodbine wrote: »

t`was only cyber suicide :rotfl:

or a virtual doppelganger with identical problems and personality disorder...we even held a cyber wake.

Jowo_2

TomMa wrote: »

...
I look like being hit by the news that even with a mortgage thats lower than the rents in the locality, I'll get almost no help. ..

The Shelter website is a good source of information for home owners struggling to pay their mortgage, how to deal with mortgage arrears and so on.

TomMa wrote: »

...
Why can't they just give help to family's in mortgaged property upto the limit set for families in rented property in the same circumstances?

Why not post this question and run a poll on the Discussion Time forum to get a debate going? Keep it brief. It won't get properly answered here as it's not a specific question about your benefit entitlement, its about policy.

[Deleted User]

goffo wrote: »

Err well I am fine, how about you?

I do think you may have me linked in with someone else if I am reading the comments correctly!

In the meantime, silly comments like those do not relate to the origanal OP so why post them?

You know what the rules are with this forum, so please do us all a favour and keep to them!!!

is that the rule about never speaking ill of the dead ???

welshmoneylover

goffo wrote: »

???? where is that rule? and who is supposed to be dead?

Sorry, but I am very much alive, and I can't remember when I was ever dead.
I think I would have known about it!

In the meantime please respect the OP and keep your comments off this forum if they are not directly related to the question in point.

You are endangering the closing of this thread which is not what the OP wants!!

Who put you in charge? Bossy boots :rotfl:

tcr_3

goffo wrote: »

Just that there is far too many off point comments being made, personal opinions of what a poster may want to do and personal comments.

These are all uncalled for, and not what this site was set up to promote.

It's a pity that others cannot keep their opinions and comments to themselves if they are not relevant.
If they did, we would have more satisfied posters!!

Better a satisfied poster than a dead one, I guess.

Look, Andy, you've been banned from here because you pretended to have killed yourself. You upset very many people by doing that, myself included.

Can't you just move on elsewhere ? Your continued presence is what's disrupting the board, that's the primary cause, the comments you're complaining about are just the effect.

I've reported this thread and asked the Forum Manager to IP check you again, with a view to your Goffo profile being suspended.

tcr_3

goffo wrote: »

I have not got the faintest of a clue of what you are talking about.

If I was this person, then why would I have posted numerous postings - 26 since I joined and have received 34 thanks?

You are barking up the wrong tree!!!
Please check me out.
I have not invited anybody to insult me, and to blame me for others that are disrupting threads is laughable!

So what's the chances of two people in receipt of ESA, contributors here within only a few months of each other, both with the same circumstances ... buying a house using money borrowed from a friend then mortgaging that house to pay the friend back and being denied DWP SMI benefits somewhere later down the line.

What's the odds of that ? I'd say about 10,000 to 1.

Quit insulting our intelligence.