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Help with housing. I have a mortgaged I'm on UC and PIP. I know about SMI, is there anything else?

Big_Al_71

Hi was just wondering if anyone new of any other help I could get with housing I have a 1 bedroom flat that is mortgaged I have been on universal credit I am in the LCWRA support group and receive the standard care rate of pip I know about SMI but was just wondering if there is anything else Thanks in advance Big Al

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Comments

janer1967

Hi there

I presume you mean help to pay your mortgage rather than help with your housing

Unfortunately there is no help from any benefits towards mortgage payments

I suggest you contact your lender to see if they can help maybe you could go onto a internal only mortgage for a while to help reduce payment

calcotti

Just SMI, which is itself a loan, on which interest is charged, secured against your property. Only eligible if you have no earnings taken into account on your UC claim.

Big_Al_71

No not yet I have had savings upto now but they are depleting fast I have the forms to fill out for it just not done it yet I am not very good with forms etc just now?

calcotti

You need to make sure you understand SMI. As I see it, SMI is not a welfare benefit, it is a financial contract.

Big_Al_71

Yes it is a loan that you have to pay back with I interest on the backend of your mortgage payable if you sell your property that's why I haven't applied for it yet but looks like I will have to as savings are running dry

janer1967

You need to do as others have advised and contact your lender

They are used to dealing with these sort of issues and will work with you to put a suitable plan in place

I have been there myself had interest only for a while, then reduced payments another time even nil payment for 6 months

Obviously it all gets added onto the debt but very useful to get out of being repossessed

calcotti

Big_Al_71 said:

Yes it is a loan that you have to pay back with I interest on the backend of your mortgage payable if you sell your property that's why I haven't applied for it yet but looks like I will have to as savings are running dry

The problem is that it only covers interest so unless you can continue to pay back capital I can’t see that it really helps. Moreover you try and better your position by working then you lose the SMI (which makes no sense in the context of the stated Tory aim of ‘making work pay’).