Support for mortgage interest in the benefits system is given in the form of a loan. This can be for claimants eligible for Universal Credit/ ESA(income related)/ Income Support/ Job Seekers Allowance(income based) or Pension Credit.
2.65%- Is the rate for the calculation of amount of loan based on the eligible loan outstanding. (from May 2023)
3.28%- Is the rate charged on the loan. (from 1/7/2023). This normally changes twice per year.
In July 2023 the government relaxed the waiting period for those on Universal Credit to receive help with their mortgage. Claimants now need to wait not 9 months but 3 months before the interest can be added to their Universal Credit calculation. Here's a guide from the government.
Book now for our updated courses Housing Costs and Universal Credit 2023 Introduction to Benefits 2023