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860768

registered interest
date	12/03/2018
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Support for Mortgage Interest
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, how many claimants of Support for Mortgage Interest (SMI) received less than two months notice of the closure of SMI.
tabling member constituency	Chesterfield
tabling member printed	Toby Perkins
uin	132125
answer	answer is ministerial correction date of answer 19/03/2018 answer text <p>Data on the number of claimants who will have less than 2 months’ notice of the introduction of SMI on 6 April 2018 is not available. A managed information provision process began in July 2017 to inform all existing recipients of SMI benefit of the new scheme. The regulations contain provision for all claimants to be given at least 6 weeks from the loan offer to make a decision whether to accept or decline an SMI loan before their SMI benefit payments cease. This 6 week period may run beyond 6 April 2018.</p> answering member constituency North West Hampshire answering member printed Kit Malthouse question first answered 19/03/2018 14:15:15 answering member 4495 label Biography information for Kit Malthouse
tabling member	3952 label Biography information for Mr Toby Perkins

860769

registered interest
date	12/03/2018
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Support for Mortgage Interest
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the effect of the ending of Support for Mortgage Interest (SMI) on (a) homeowners who are recipients of SMI and (b) mortgage lenders if claimants do not take up the Government loan scheme.
tabling member constituency	Chesterfield
tabling member printed	Toby Perkins
uin	132126
answer	answer is ministerial correction date of answer 19/03/2018 answer text <p>Support for Mortgage Interest (SMI) is not ending. The scheme will continue to provide financial support owner-occupiers in times of need in exactly the same way as it does now. Claimants and mortgage lenders will not see any difference in the payments they receive. The only difference is that we will require repayment of the loan once the property is sold, subject to there being sufficient equity available. Mortgage lenders will be notified when a claimant's SMI benefit payments cease. Lenders are required under Financial Conduct Authority (FCA) regulations to engage with borrowers to discuss how they will meet their loan commitments.</p> answering member constituency North West Hampshire answering member printed Kit Malthouse question first answered 19/03/2018 14:36:49 answering member 4495 label Biography information for Kit Malthouse
tabling member	3952 label Biography information for Mr Toby Perkins