Support for Mortgage Interest

Department for Work and Pensions · awarded 24 November 2023

Who

Buyer	Department for Work and Pensions London
Supplier	IFF Research Limited
Category	services
Classification	Research and development services and related consultancy services CPV 73000000
Notice published	17 January 2024

What it is for

SMI provides support to out of work and retired mortgage holders claiming income-based benefits. It aims to prevent repossession by making a contribution towards mortgage interest payments. Initially provided as a benefit, in April 2018 SMI changed from a benefit to a loan repayable upon the sale of the property. SMI loans are available to claimants on certain benefits to help meet the interest payments on their mortgage. SMI is paid as a loan, which the recipient will need to repay with interest, usually when they sell or transfer ownership of their home. To be eligible for a SMI loan, the claimant needs to be in receipt of one of the following qualifying benefits: Income Support, income-based Jobseeker's Allowance (JSA), income-related Employment and Support Allowance (ESA), Universal Credit or Pension Credit.

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