Support for Mortgage Interest (SMI) can be paid to people on Income Support, Pension Credit and income-based Jobseeker's Allowance if they are experiencing problems with the interest payments on their mortgage.
On 2 September the Government announced reforms to the system to more accurately reflect the value of people's property and reduce the waiting time before help from SMI kicks in.
Presently, working age homeowners have to wait 39 weeks before help towards their mortgage is paid. As a temporary measure, from April 2009 that waiting period will be cut to 13 weeks for all new working age claims. In addition, as a temporary measure, also from April 2009, the capital limit on loans upon which SMI is based will be increased from £100,000 to £175,000 for new working age claims.
Pensioners getting pension credit do not have to wait to get help with their mortgage interest payments.
From April 2009 there will be a time limit on SMI of two years for new Jobseeker's Allowance claims only. Time-limiting will not apply to existing claims or to new claims from those in receipt of Income Support, Pension Credit or income-related Employment and Support Allowance when it is introduced on October 2008.
The Government will keep this system of support under review.
If you are of working age you can also telephone or visit your local Jobcentre or Jobcentre Plus office. Whether you are already working or looking for work, the staff there will be able to tell you about any benefits you can claim. You can find your nearest office in the phone book or by visiting the Jobcentre Plus website www.jobcentreplus.gov.uk.
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