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Hello everyone. I listened to the budget intently and was very impressed overall. In particular I noticed the changing of SMI from a benefit to a loan from 2018 and thought about the frequent occasions that SMI was complained about on here.......... and then no thread! Your Standards really are slipping HPCers! SMI costs approx £500million a year and so will amount to a significant cut for those who should really sell their house as it is no longer commensurate with the living standards they can afford. I`m really starting to like the Conservatives and may even vote for them next time out! Summary of SMI as it stands..... If you qualify for Support for Mortgage Interest (SMI), you’ll get help paying the interest on up to £200,000 of your loan or mortgage. If you’re getting pension credit this figure is £100,000. How SMI is paidSMI is normally paid direct to your lender after a waiting period, which is 13 weeks after you’ve claimed benefit. The standard interest rate used to calculate SMI is 3.12%. What’s not includedSMI can’t help you pay: the amount you borrowed - only the interest on your mortgage anything towards insurance policies you have missed mortgage payments (arrears) Further Links http://www.mortgagefinancegazette.com/arrears/budget-smi-to-become-a-loan-not-a-benefit/ Mentioned as far back as Mar 2014 : http://www.thisismoney.co.uk/money/mortgageshome/article-2569205/Is-DWP-planning-SMI.html