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Help with Mortgage costs

Support for Mortgage Interest (SMI)

From 5 January 2009 if you were already receiving either: Income-based Jobseekers Allowance, Income Support or income-related Employment and Support Allowance, most claims for SMI came under new rules including:

  • waiting 13 weeks from the date you claim before you get SMI (this is known as a waiting period and was previously 39 or 26 weeks).
  • being able to claim for mortgage interest on up to £200,000 of your mortgage (this was previously £100,000).
  • getting paid SMI for up to two years only if you are getting income-based Jobseeker’s Allowance.
  • There is no limit to how long you can get SMI if you are receiving the above benefits.

With new benefit claims for Income-based Jobseeker’s Allowance from 5 January 2009 there is a two year time limit to claiming SMI. This will start affecting some people from 5 January 2011. If you have received SMI for two years from 5 January 2009 or later, you will no longer receive help with your mortgage interest.

See the jobcentre web site for more information.

The following link leads to a non FSA regulated website. Shire Financial Services are not responsible for external content.
http://www.jobcentreplus.gov.uk/JCP/index.html

Jobseeker's Allowance

If you are of working age but unemployed and actively seeking work, you may be able to get Jobseeker's Allowance.

This is paid at £53.45 per week if you are 24 or under and £67.50 if you are 25 or over.

There are various restrictions on Jobseeker’s Allowance and you should check your entitlement with your local Jobcentre Plus. You may find the link below helpful for further information:

http://www.direct.gov.uk/Homepage/fs/en
http://www.dwp.gov.uk/international/sa29/benefits_01.asp

Statutory Sick Pay

If you are off work through sickness your employer may pay your normal wage or a reduced amount. The government will allow you Statutory Sick Pay after 3 consecutive days off work, of up to £81.60 per week if you were earning £102.00 per week, otherwise the SSP will be reduced.

Visit the Department for Work and Pensions website for more information.

http://www.dwp.gov.uk/lifeevent/benefits/statutory_sick_pay.asp

Further information about claiming benefits, information on mortgage arrears and payment difficulties can be found using the following link on the government website www.direct.gov.uk.