Linked Data API

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uin	133806
hansard heading	Support for Mortgage Interest

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Search Results

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

1581365

registered interest

date

26/01/2023

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, what steps he is taking to ensure the affordability of mortgages for people reliant on Support for Mortgage Interest, who have recently experienced an increase in their mortgage interest rates.

tabling member constituency

Cynon Valley

tabling member printed

Beth Winter

uin

133806

answer

is ministerial correction

date of answer

01/02/2023

answer text

<p>Support for Mortgage Interest (SMI) makes a contribution towards eligible mortgage interest to enable people to remain in their homes without fear of repossession. SMI is calculated by applying a standard rate of interest to the capital balance on the outstanding loan. The standard interest rate is set at a level equal to the Bank of England's published monthly average mortgage interest rate. This rate was selected because it is an average of the rates that apply to claimants’ mortgages including fixed and variable rate mortgages. This will change when the Bank of England average mortgage rate differs by 0.5 percentage points or more from this figure.</p>

answering member constituency

Mid Sussex

answering member printed

Mims Davies

question first answered

01/02/2023 11:47:12

answering member

4513

	label	Biography information for Mims Davies

tabling member

4809

	label	Biography information for Beth Winter