We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Support for Mortgage Interest
HAMISH_MCTAVISH
Posts: 28,592 Forumite
Some interesting facts released around SMI. In 2011, the following was the case.
-There were 205,200 claimants with an average claim of £29.84 per week.
-Those on Jobseekers Allowance comprised the smallest number at just 30,000 claimants, but with the largest claims, at an average of £51 per week
- There were 66,400 claimants on Income support with an average claim of £36 per week
- The largest group by far were those on Pension Credit, 108,700, but with the smallest claim at just £20 per week.
I am surprised both at how low the number of claimants on JSA is, and also at how little money is spent per claimant on average, particularly compared to realistic alternatives like private rents or emergency accommodation.
-There were 205,200 claimants with an average claim of £29.84 per week.
-Those on Jobseekers Allowance comprised the smallest number at just 30,000 claimants, but with the largest claims, at an average of £51 per week
- There were 66,400 claimants on Income support with an average claim of £36 per week
- The largest group by far were those on Pension Credit, 108,700, but with the smallest claim at just £20 per week.
I am surprised both at how low the number of claimants on JSA is, and also at how little money is spent per claimant on average, particularly compared to realistic alternatives like private rents or emergency accommodation.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
0
Comments
-
propping up the housing market, innit?'Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap.'
GALATIANS 6: 7 (KJV)0 -
RUN_RABBIT_RUN wrote: »propping up the housing market, innit?
I was going to mention that it doesn't seem like much of a prop, what with the tiny numbers involved, but figured any use of that word would attract the crazies to the thread.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Some interesting facts released around SMI. In 2011, the following was the case.
-There were 205,200 claimants with an average claim of £29.84 per week.
-Those on Jobseekers Allowance comprised the smallest number at just 30,000 claimants, but with the largest claims, at an average of £51 per week
- There were 66,400 claimants on Income support with an average claim of £36 per week
- The largest group by far were those on Pension Credit, 108,700, but with the smallest claim at just £20 per week.
I am surprised both at how low the number of claimants on JSA is, and also at how little money is spent per claimant on average, particularly compared to realistic alternatives like private rents or emergency accommodation.
Some of those will be disabled in shared ownership. A far cheaper option than residential care
Truth always poses doubts & questions. Only lies are 100% believable, because they don't need to justify reality. - Carlos Ruiz Zafon, The Labyrinth of the Spirits0 -
LOL...hardly propping up the market. If people can't pay the interest on the mortgage they would have to sell and then claim housing benefit which costs much more. SMI is only 3.63% of the minimum amount the mortgage has ever been.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
People claiming SMI are in a similar position to those priced out of the market -
Neither group can afford to buy a house."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
People claiming SMI own a house already but have found themselves in circumstances where they need help paying the interest on the mortgage to remain in their current home. It's either that or sell and claim housing benefit which averages out at about £70 a week.People claiming SMI are in a similar position to those priced out of the market -
Neither group can afford to buy a house.:footie: Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
People claiming SMI own a house already but have found themselves in circumstances where they need help paying the interest on the mortgage to remain in their current home. It's either that or sell and claim housing benefit which averages out at about £70 a week.
Not true.
If they OWNED the house they wouldn't be eligible for SMI"The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
Not true.
If they OWNED the house they wouldn't be eligible for SMI
Are you suggesting that mortgages should be disbanded and that everyone should have to save up to buy houses outright?
I assume that everyone would live in rented accomodation while they save up for a decade or so. What do you suggest should happen if they lose their jobs while renting?0 -
It's either that or sell and claim housing benefit which averages out at about £70 a week.
so the state would be paying on average more to claimants in housing benefit than on smi
also there are currently around 5 million people claiming housing benefit and just 30,000 people on jsa claiming smi
draw your own conclusions'Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap.'
GALATIANS 6: 7 (KJV)0 -
Not true.
If they OWNED the house they wouldn't be eligible for SMI
They do OWN the house.
They may also OWE money to a bank.
But the bank does not own the house.
I realise it's a subtle distinction and thus probably beyond your comprehension, but it's a fact that homeowners, even with a mortgage, do legally own their house.
If they fail to pay their debt then a bank can take legal action to force the sale of assets to pay that debt.... But then again so can a council if you fail to pay council tax, a credit card company if you fail to pay credit cards, etc.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards