Mortgages: Government Assistance

Department for Work and Pensions written question – answered on 9th March 2018.

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Photo of Frank Field Frank Field Chair, Work and Pensions Committee, Chair, Work and Pensions Committee

To ask the Secretary of State for Work and Pensions, what estimate she has made as to the savings that will be accrued to the public purse as a result of the replacement of support for mortgage Interest with a loans-based system from April 2018.

Photo of Kit Malthouse Kit Malthouse The Parliamentary Under-Secretary of State for Work and Pensions

The introduction of Support for Mortgage Interest loans is about increasing fairness and sustainability. It will save £160 million per year in welfare spending whilst continuing to support homeowners to avoid the threat of repossession.

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