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.
📨 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
Comments
-
Is she on contribution based as she gave up work as you only get smi on income based as well.
Those on CB benefits should still apply because the housing costs may give them an entitlement to income based benefits.This link might give you some info..SHELTER..SMI ...
Apparently she should be aware that any payments she might receive may be reduced if her home is considered to be more expensive or larger than her needs.
It is part of the regs, but I've never seen SMI limited for this reason - I guess it is accounted for by the overall £200K limit0 -
As she is living alone in a 4 bedroom house, I would've thought that it would be more sensible for her to sell it and downsize rather than spend her time trying to work out how many different benefits she can get.0
-
The concerns about remortgaging are as I understand it mostly around if those remortgages have happened recently enough that her claim for benefit could have reasonably been forseen at that time.
If these were over a decade ago, this is not a concern.0 -
Also remember that SMI is going to be a loan charged with interest and reclaimed either when working again or house sake.0
-
northerntwo1 wrote: »Also remember that SMI is going to be a loan charged with interest and reclaimed either when working again or house sake.
I do not recall the details, but believe that this is only for those who apply post 2017, existing claimants are not moved over.0 -
rogerblack wrote: »The concerns about remortgaging are as I understand it mostly around if those remortgages have happened recently enough that her claim for benefit could have reasonably been forseen at that time.
If these were over a decade ago, this is not a concern.
I dont' think that is true - I've seen cases on the mortgage forum where people have spoken of only getting the original amount of mortgage supported when remortgaging has taken place years ago. Also note that it has to be essential repairs according to national debtlineThey may also help you to pay loans that you took out to make necessary repairs or improvements to your home. Only certain repairs and improvement count, such as adapting your home for someone with a disability
Might be best to repost on the Mortgages thread0 -
rogerblack wrote: »I do not recall the details, but believe that this is only for those who apply post 2017, existing claimants are not moved over.
My understanding is that SMI will change from a benefit to a loan for everyone.The policy will affect all those on SMI, though this is through repayments which are delayed until
such time as recipients are financially able to repay this loan. Support remains available at the
time of need, but at a higher level due to the increased capital limit on support. Households
may choose not to take up this loan and alternatively finance their mortgage. Those who
currently claim SMI and do take up the support will retain the level of support they currently
have0 -
4 bedrooms - can she find some way to get an income from at least one of those. There are lots of flexible options if you don't like people, or are a bit odd, or your house isn't the best of places for others to come into .....
Flexible ways include: offering B&B, AirBNB short-term rentals, taking in language students (which could be adults, or even coach driver/leader of groups) commitments are from just 1 week.
How much is a £35k mortgage? Interest £30/week at 5%. Wouldn't be hard to try to cover it somehow.
Or, radical, sell the house and downsize. No more worries like this.0 -
Cheeky Monkey, she's had her house on the market for three years. It's in a bad area so little chance of selling it despite it being reduced several times.0
-
PaturesNew, she is suffering from serious ill health so quite naturally would not want to share her house with strangers at this time. She is desperately hoping to be able to go back to work - her job is held open for her for the time being - but her doctors say there is very little chance she will be able to do so.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards