Support for Mortgage Interest
Who
| Buyer | Department for Work and Pensions — not a council we hold |
| Supplier | IFF Research Ltd |
What
SMI provides support to out of work and retired mortgage holders claiming income-based benefits. It aims to prevent repossession by making a contribution towards mortgage interest payments. Initially provided as a benefit, in April 2018 SMI changed from a benefit to a loan repayable upon the sale of the property. SMI loans are available to claimants on certain benefits to help meet the interest payments on their mortgage. SMI is paid as a loan, which the recipient will need to repay with interest, usually when they sell or transfer ownership of their home. To be eligible for a SMI loan, the claimant needs to be in receipt of one of the following qualifying benefits: Income Support, income-based Jobseeker's Allowance (JSA), income-related Employment and Support Allowance (ESA), Universal Credit or Pension Credit.
Dates and source
| Runs | 24 Nov 2023 to 17 May 2025 |
| OCID | ocds-b5fd17-f2a3c46a-b7c1-4486-8d93-b0213f19d636 |
| Notice | Read it on Contracts Finder |
Figures are as published An award value in OCDS may be a framework ceiling rather than a sum anyone expects to spend, so a large figure here is not evidence of a large purchase.