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tabling member printed	Helen Goodman
answering body	Department for Work and Pensions
max date	2019-05-21
answer › answering member printed	Caroline Dinenage
question text	To ask the Secretary of State for Work and Pensions%2C how the interest rate will be set%2C following support for mortgage interest changes in April 2018.

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registered interest

date

exactly:

or between:
and

answering body

answering dept id

answering dept short name

answering dept sort name

hansard heading

house id

legislature


pref label

question text

tabling member constituency

tabling member printed

uin

answer

is ministerial correction

date of answer

exactly:

or between:
and

answer text

answering member constituency

answering member printed

question first answered

answering member


label

tabling member


label

776928

registered interest

date

24/10/2017

answering body

Department for Work and Pensions

answering dept id

answering dept short name

Work and Pensions

answering dept sort name

Work and Pensions

hansard heading

Support for Mortgage Interest

house id

legislature

25259

pref label	House of Commons

question text

To ask the Secretary of State for Work and Pensions, how the interest rate will be set, following support for mortgage interest changes in April 2018.

tabling member constituency

Bishop Auckland

tabling member printed

Helen Goodman

uin

109240

answer

is ministerial correction

date of answer

30/10/2017

answer text

A Standard Interest Rate (SIR) based on the Bank of England’s published monthly average mortgage interest rate is used to calculate the amount paid towards the interest on a claimant’s mortgage and / or loan. This rate is based on information from banks and building societies and reflects an average of current mortgage interest rates on UK loans. The current rate (from June 2017) is 2.61%. Interest will be charged on SMI loans based upon the cost of gilts as published by the Office for Budget Responsibility (OBR). This rate reflects the cost of Government borrowing. The Gilt Rate Forecast for 2017-18 is 1.5% as specified in the latest Economic and Fiscal Outlook published on the 8th March 2017 by the OBR and the current forecast for 2018-19 is 1.7%.

answering member constituency

Gosport

answering member printed

Caroline Dinenage

question first answered

30/10/2017 12:47:06

answering member

4008

label	Biography information for Dame Caroline Dinenage

tabling member

1484

label	Biography information for Helen Goodman