INTEREST FOR BENEFIT(SMI) LOANS DROPS

Created 09/08/2019

The rules around support for mortgage interest(SMI) are here. Generally clients wait 9 months to receive help;
typically 2.61% of the outstanding mortgage/ home loan.

SMI is paid as a loan. Clients need to repay the money they get with interest when they sell or transfer ownership of their home.

This interest is added to the loan and has dropped from 1.5% to 1.3%.

Book now for our updated Introduction to Welfare Benefits 2019 course.