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Support for Mortgage Interest
Spoonie_Turtle
Posts: 10,584 Forumite
Thought this would be useful to know, from the budget (and hadn't previously seen mention of it, sorry if it's old news that I've missed previously).
Reforming Support for Mortgage Interest - To support mortgage borrowers with rising interest rates, the government will allow those on UC to apply for a loan to help with interest repayments after three months, instead of nine. The government will also abolish the zero earnings rule to allow claimants to continue receiving support while in work and on UC. This will come into effect in Spring 2023.
https://www.gov.uk/government/publications/autumn-statement-2022-documents/autumn-statement-2022-html#policy-decisions
Reforming Support for Mortgage Interest - To support mortgage borrowers with rising interest rates, the government will allow those on UC to apply for a loan to help with interest repayments after three months, instead of nine. The government will also abolish the zero earnings rule to allow claimants to continue receiving support while in work and on UC. This will come into effect in Spring 2023.
https://www.gov.uk/government/publications/autumn-statement-2022-documents/autumn-statement-2022-html#policy-decisions
8
Comments
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Long overdue. Existing rules act as a barrier to moving into work which is complete contrary to overall UC policy intention.Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.3
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