Support for Mortgage Interest (SMI)

Please be aware that Support for Mortgage Interest (SMI) is changing. From 5 April 2018, it will no longer be a benefit that can be claimed, but instead paid as a loan.

Those currently claiming SMI should have received a letter from the Department for Work and Pensions. There will be no automatic conversion – all SMI will stop being paid on 5 April. Claimants will need to have completed a loan agreement if they wish to continue receiving SMI.

SMI is paid on loans up to £200,000, but this is reduced to £100,000 when individuals are getting pension credit, or started getting another qualifying benefit before January 2009.

The SMI loan is repayable, with interest, upon the sale of the property, transfer of ownership or death.

Further information is available from GOV.UK and The Money Advice Service.

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