Mortgage arrears? ISMI the mortgage safety net ..

Dr_Peppers

the mortgage safety net or Income support for mortgage interest (ISMI) can be claimed after nine months of JSA up to a maximum mortgage sum of £100,000. The lender has to agree to terms of ISMI & can be a god send in helping you stay in your home untill you get on your feet.. hope this helps you if like me you are faced with re posession. Good luck ppl lets help each other :A

dmg24

JSA must be income based (ie your income must be at IS levels) in order to qualify for ISMI.

ISMI will only pay out at a certain interest rate, and it will only pay the interest on the mortgage, not the repayment element.

Many people do not see ISMI as a safety net, as if you have been unable to pay your mortgage for the lengthy qualification period then the help has really come far too late.

If you do a search there is a great deal of information and links already posted on the subject, that will give a much fuller view of eligibility.

sarkin

Most people go belly up before they get to 9 months

poppy10_2

sarkin wrote: »

Most people go belly up before they get to 9 months

I'm sure there's a pregnancy-related joke in there somewhere, but I'm too tired to think of it right now :beer: