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Change interest rate while on benefit
stakeholder
Posts: 1 Newbie
I am with Santander. I am on benefits and receive montly help towards paying my mortgage. The help is paid directly to Santander.
I received my statement yesterday. I am paying 4.7% variable interest. I would like to change this to a lower rate. However, when I rang Santander, they were not sure whether I am allowed to do this without affecting the help I receive.
I also rang DWP and no one could answer my question definitively. I was told that it could 'mess' up the current benefit received if I tried to change product. Please help. Thank you
I received my statement yesterday. I am paying 4.7% variable interest. I would like to change this to a lower rate. However, when I rang Santander, they were not sure whether I am allowed to do this without affecting the help I receive.
I also rang DWP and no one could answer my question definitively. I was told that it could 'mess' up the current benefit received if I tried to change product. Please help. Thank you
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Comments
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I would suggest posting on the benefits board on MSE rather than here.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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