Does anyone know how they work out Mortgage Interest payments? - HotUKDeals
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Does anyone know how they work out Mortgage Interest payments?

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Hi, my brother has just been told that he should of been getting mortgage payment help from the job centre, does anyone know how this works ? He pays £385 a month mortgage with an interest rate 5.75 … Read More
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7y, 7m agoPosted 7 years, 7 months ago
Hi, my brother has just been told that he should of been getting mortgage payment help from the job centre, does anyone know how this works ? He pays £385 a month mortgage with an interest rate 5.75 %, I cant find any information about how much help he will get.
Thanks in advance for any help, rep will be left
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7y, 7m agoPosted 7 years, 7 months ago
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#1
LOL
Thankyou but it still doesnt say how much you get
1 Like #2
My friend lost his job and he applied for the mortgage help scheme.

His monthly payment was £800, the government now pay £600 and he pays £200, for the next two years or until he gets a job.
1 Like #3
Obviously it won't say how much it is as everyones interest rate is different lol dependant upon how much they owe etc
#4
chester123
My friend lost his job and he applied for the mortgage help scheme.

His monthly payment was £800, the government now pay £600 and he pays £200, for the next two years or until he gets a job.


That sounds a lot,is that right,they pay 600 quid:w00t:
#5
Looks like we will have to wait and see, its frustrating because if you rent they pay it all from day one, Thankyou to everyone for your help
1 Like #6
[QUOTE=whatsThePoint]He won't get any if he was born here

Ignore this Sun style headline.

This should help:

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DG_10013261
banned 1 Like #7
they pay the interest, he will either have to pay the cpaital or contact his mortgage supplier to arrange something, there is also a certain amount of time you have to have been on benefit before you can claim
#8
Thanks sassie, apparently he should of been getting it since june but " has fallen through the system !!"
#9
sassie
they pay the interest, he will either have to pay the cpaital or contact his mortgage supplier to arrange something, there is also a certain amount of time you have to have been on benefit before you can claim


According to the link further up it's 13 weeks :



Conditions that apply to SMI since 5 January 2009
There are some conditions that apply to most claims for help with your mortgage interest made since 5 January 2009:

you wait 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)
you’ll be able to claim for mortgage interest on up to £200,000 of your mortgage (this was previously £100,000)
if you have claimed Jobseeker’s Allowance on or after 5 January 2009 you’ll be paid SMI for two years only
if you were still in the waiting period to get SMI under the old conditions on 4 January 2009, you’ll be eligible for the temporary extra help

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