Support for Mortgage Interest

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.