The UK government has recently announced a widening of the eligibility criteria for the Support for Mortgage Interest (SMI) program. This program provides financial assistance to those who are struggling to make their mortgage payments due to a change in their circumstances. The changes, which come into effect in April 2020, will make it easier for people to access the support they need.
The SMI program is designed to help those who have been affected by a sudden change in their circumstances, such as a job loss or a reduction in income. It provides financial assistance to those who are struggling to make their mortgage payments due to this change. The program is administered by the Department for Work and Pensions (DWP) and is available to those who are receiving certain benefits, such as Jobseeker’s Allowance or Employment and Support Allowance.
The government has now widened the eligibility criteria for the SMI program. This means that more people will be able to access the financial assistance they need. The new criteria will allow people who are receiving Universal Credit to be eligible for the program, as well as those who are self-employed or have a fluctuating income. This will make it easier for those who have been affected by a sudden change in their circumstances to access the support they need.
The changes to the SMI program are part of the government’s commitment to helping those who are struggling financially due to a change in their circumstances. The government has also announced other measures to help those affected by the coronavirus pandemic, such as an increase in Universal Credit payments and an extension of mortgage payment holidays.
The widening of the eligibility criteria for the SMI program is an important step in helping those who are struggling to make their mortgage payments due to a change in their circumstances. It will provide much needed financial assistance to those who need it most and will help ensure that people can stay in their homes.