The UK Rules
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Support for Mortgage Interest

Support for Mortgage Interest Rules

What is the Support for Mortgage Interest Payments Scheme? SMI benefit can help cover the cost of mortgage and loan interest payments.

SMI BENEFIT: Homeowners on qualifying income-related benefits can get Support for Mortgage Interest relief on some home improvements or repairs.

Use this guide to check if Support for Mortgage Interest payments scheme will help cover interest payments on selected house improvements.

Find out what you could get but you must be a homeowner to be eligible. You must also be claiming qualifying income related benefits.

You could get financial help with your mortgage or any loans taken out for certain reparations to your domestic property.

Support for Mortgage Interest (SMI) gets paid as part of your benefit. As a rule SMI goes directly to your lender.

Note: SMI does not help towards the amount you borrowed. It only covers the interest portion. Do not use SMI as a guarantee of payment for a loan you take out.

Amounts for Mortgage Interest Support

Those who qualify for Support for Mortgage Interest get help paying interest on their loan or mortgage for sums up to £200,000. The uppermost figure is £100,000 if you get Pension Credit.

If you already get SMI and move to Pension Credit within 12 weeks of stopping your other benefits, you may still get the aid on interest on up to £200,000.

Important Information about SMISMI will stop getting paid as a 'welfare benefit' from the 5th of April 2018. Those who are receiving it will get a letter with information on an SMI loan and other options available.

SMI Support for Mortgage Interest Payment

Support for Mortgage Interest payments usually go direct to your lender after the waiting period. The waiting period is 39 weeks after you first claim the qualifying benefit. But there is no waiting period for those getting Pension Credit.

Note: The standard interest rate used for SMI calculations is 2.61%.

What is not included in Support for Mortgage Interest

Support for Mortgage Interest cannot help you pay for:

SMI Time Limits

You will only get help for 2 years if you get income-based Jobseeker's Allowance and apply for the first time. The same rule applies if you started getting SMI after the 5th of January 2009.

Support for Mortgage Interest Eligibility

Support for Mortgage Interest eligibility depends on whether you get one of these benefits:

How to Claim Mortgage Interest Benefit

There are several offices you can contact to check if you meet the eligibility criteria of SMI rules. You should contact the office related to the support you are already benefiting from to claim Support for Mortgage Interest:

Extra Information about SMI Rules

A change in circumstances may mean that your benefit is going to stop. In most cases you can still get financial help even if you are planning to:

Note: If it happens, the kind of financial help you can get is better known as 'Mortgage Interest Run On' benefit.

Support for Mortgage Interest Scheme: SMI Rules in the United Kingdom