Pensioners may get mortgage support on loans up to £100,000 – are you eligible? | Personal Finance | Finance


This is because people who have qualified for SMI via Pension Credit can only get help on up to £100,000 of their mortgage or loan).

However, since there is a fair chance older people will have paid off more of their mortgage than someone younger who is claiming SMI through a different benefit, this may not present an issue for many pensioners.

Interest is calculated at a rate of 1.7 percent.

In most cases, the SMI recipient does not actually get paid the money, rather it is made directly to their lender.

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