Disabled people and others receiving support for mortgage
interest (SMI) will be able to request the loan balance be transferred to their
new property when moving home, the government has confirmed. SMI is the help
offered by government to owner-occupiers in times of need. It is paid as a loan
and contributes towards the interest on people’s mortgages if they are in
receipt of certain benefits, to protect them against repossession and keep them
in their own homes. This change will benefit those moving into a new property
due to a disability or health condition, as they will continue to receive
uninterrupted support towards their mortgage payments. Read more on the Mortgage
Solutions website.
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