home
in

If im on benefit will I get my mortgage paid ?

Last post Fri, Jul 03 2009, 9:49 AM by Twee. 2 replies.
Sort Posts: Previous Next
  •  Fri, Jul 03 2009, 9:49 AM

    Re: If im on benefit will I get my mortgage paid ?

    By "interest only" - I assume that you mean an Endowment mortgage ?

    Unfortunately - the powers that be - see this as a potential profit making venture and will not pay anything towards it - I would try to convert it to a REPAYMENT mortgage - you should then get assistance - if the rest of your financial status matches theirs.....

    • Post Points: 5
  •  Fri, Jul 03 2009, 3:27 AM

    Re: If im on benefit will I get my mortgage paid ?

    Yes, if you are not working, the government will probably pay the interest on a mortgage after the first few weeks that you are on income support. If you are working, the amount will depend on how much you earn. You should investigate working tax credits as well as income support. Your local Citizens Advice Bureau are as clued up as anyone on how much you will get but, in my view, the only way to find an exact figure is to fill in the forms honestly and see what happens. Benefits wont pay the mortgage interest for the first few weeks that you are out of work though.
    • Post Points: 20
  •  Thu, Jul 02 2009, 10:08 PM

    If im on benefit will I get my mortgage paid ?

    Im struggling to find an answer to this. Ive got an interest only mortgage and Im being made redundant in a month.Ive got mortgage protection but it seems they needs a ridiculous amount of evidence from me to prove Im being honest. The mortgage protection also says it will only work if Im in continuous employment, so as Im unlikely to find a permannet job and therefore will have to do hourly paid stuff, there doesnt seem much point in having it. If I have to go on benefit can I still get my mortgage paid ?

    • Post Points: 20