Does anyone know how they work out Mortgage Interest payments?

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

9 Comments

Original Poster

LOL
Thankyou but it still doesnt say how much you get

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.

Obviously it won't say how much it is as everyones interest rate is different lol dependant upon how much they owe etc

chester123;6904547

My friend lost his job and he applied for the mortgage help scheme.His … 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:

Original Poster

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

[QUOTE=whatsThePoint;6904350]He won't get any if he was born here

Ignore this Sun style headline.

This should help:

direct.gov.uk/en/…261

Banned

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

Original Poster

Thanks sassie, apparently he should of been getting it since june but " has fallen through the system !!"

sassie;6904929

they pay the interest, he will either have to pay the cpaital or contact … 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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