Finances and extra costs
If this is your first visit, check out the community guide. You will have to Join us or Sign in before you can post.

Pensions credit and SMI

SystemSystem Posts: 545

Scope community team

edited June 2018 in Finances and extra costs
This discussion was created from comments split from: SMI paid as a benefit.


  • AniiAnii Member Posts: 3 Listener
    Hello I have just found this website. I am so glad I did. The only thing is I dont have time to read all the post. I am disabled 79 years of age getting Pensions credit? What I want to know is will I still get SIM. I pay £125 per month for my housing intrest. Last month I got a shock when the building society took £177?
    Is this right? I would be greatfull for any advice. Anii
  • Pippa_AlumniPippa_Alumni Scope alumni Posts: 5,851 Disability Gamechanger
    Hi @Anii, and welcome! I've moved this post into a separate discussion where more of our members will see it and hopefully be able to help.
  • AniiAnii Member Posts: 3 Listener
    Hi Pippa thank you for your message. Anii
  • BenefitsTrainingCoBenefitsTrainingCo Member Posts: 2,692 Pioneering
    Hi Anii, no, you don't get support for mortgage interest any longer. You should have received a letter from the DWP asking you if you want to take out a loan instead. If you take out the loan, the DWP will pay the same bit of the mortgage interest as before, but you'll start owing them & they will have a charge on the property.

    It's not too late to start getting the loan if you want it, but make sure you understand all the implications. Details of how to get in touch with the DWP are here (use the number for people getting pension credit, 0800 731 0469). If you didn't get the letter, or you've lost it, they should be able to send you out all the details again.

    The loan has to be repaid if you sell or transfer the ownership of your home.

    Hope this helps. You could also try talking to your local CAB if you want to discuss things further, but remember they can't give you financial advice (it is up to you what decision to make). If you don't take out the loan, you'll have to think about how you can manage paying the extra mortgage interest yourself.

    It might be a good idea to get all your benefits checked at the same time, for example, to see if you can get Attendance Allowance (if you're not already getting it) and if so, what rate you should get.

    The Benefits Training Co:
    Paul Bradley
    Michael Chambers
    Will Hadwen
    Sarah Hayle
    Maria Solomon
    David Stickland
  • leeCalleeCal Member Posts: 3,666 Disability Gamechanger
    @anii The new smi loan also attracts interest, possibly 3.36%  not sure now, good luck 
Sign in or join us to comment.