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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
Community member Posts: 5 Listener
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
Comments
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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
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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.Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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Couple of things, you can ask your lender to put you on "interest only" for a period, or you could ask them if they can offer you a better deal e.g a lower interest rate.
Are you claiming SMI?2024 The year of the general election...the time for change is coming 💡 -
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?
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You need to make sure you understand SMI. As I see it, SMI is not a welfare benefit, it is a financial contract.Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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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
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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 -
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 dryInformation I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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