smi changes

[actonjon]

hi all just to heard that the dwp are thinking of turning smi payment into a loan when you move or sell your property

[count orlok]

What is an smi payment?

[actonjon]

What is an smi payment?

smi is support mortague interist

[count orlok]

I see, but I don't understand why you are so angry if it is true. Mortgage/interest payments are an investment for the future. You are getting a roof over your head like rent but when the property is sold you have capital, if the taxpayer has invested in this surely they should get their money back when the value of the asset is realised.

[Nystagmite]

Do you have a link, please?

[Life-Goes-On]

http://www.dwp.gov.uk/newsroom/press-releases/2011/dec-2011/dwp138-11.shtml

[Lilly_Monroe]

Well I would be up for something like that, out of all their mad cap schemes this one seems incredibly sensible and workable.

 

Lilly

[count orlok]

This would also allow the help to be provided for a longer period (I believe at the moment it is time limited and not long term) and if the interest rate on the "loan" was kept near base rate it would be a win win situation for not only the taxpayer but also the benefit claimant (or should we be referring to ourselves as customers).

Edited January 31, 2012 by count orlok

[sj01]

Well, is it ok to pay a private land lords mortgage for him then with housing benefit when the DW are paying your rent.

What if a tenant was asked to pay the rent back to the DWP when he gets a job.

I have a mortgage and because of that my out goings are a lot more than a person who rents because of extra insurances etc.

[Lilly_Monroe]

If you look at it logically, it is NO different that the money you would be paying the building society yourself, if you were working, so you would not be losing out come the point of sale.

In fact some people would be better off, as their house might have increased in value the longer they can live in it.

 

Lilly