Scrapping mortgage interest benefits leaves thousands at risk of homelessness, says Labour
I fear some very negative implications arising from this policy amongst rural “Jams” – especially bearing in mind it costs more to “get by” in rural England. This story tells us:
The government’s decision to scrap mortgage interest benefits has put thousands of homeowners at risk of homelessness, Labour has said.
The warning came after official statistics revealed that less than 10 per cent of those who previously received help from the state with their mortgages had taken up the new loan offered in its place.
Low-income homeowners had been able to access the ‘support for mortgage interest’ (SMI) payment since it was introduced in 1948. The then-Labour government introduced the benefit to protect people who became ill, unemployed or retired from having their houses repossessed.