Thursday, 13 June 2019

Vulnerable People Allowed To Transfer Support For Mortgage Interest When Moving Home


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.

No comments: