Income Support: Mortgages

Work and Pensions written question – answered on 15th October 2008.

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Photo of Steve Webb Steve Webb Shadow Secretary of State for Energy and Climate Change

To ask the Secretary of State for Work and Pensions what plans he has to offer additional support to householders who are having difficulties meeting their mortgage repayments; and if he will make a statement.

Photo of Jonathan R Shaw Jonathan R Shaw Parliamentary Under-Secretary (Disabled People; Minister for the South East), Department for Work and Pensions

On 2 September we announced that we will reform Support for Mortgage Interest to simplify the system and make it easier for people who are eligible to claim.

The changes include shortening the waiting period before support for mortgage interest is paid from 39 or 26 weeks to 13 weeks for new working age claims from April 2009; increasing the capital limit for new working age claims from £100,000 to £175,000 from April 2009 to take into account the value of people's homes today; and introducing a two year time limit on support for mortgage interest for new jobseeker's allowance claims only.

The system of support for home owners will be reviewed once housing market conditions improve.

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