Support for Mortgage Interest
key details
| Value | £150,000 |
|---|---|
| Status | complete |
| Category (CPV) | 73000000 |
| Deadline | 29 Sept 2023 |
| Contract start | 24 Nov 2023 |
| Contract end | 17 May 2025 |
| Procedure | selective |
| SME suitable | Yes |
| OCID | ocds-b5fd17-f2a3c46a-b7c1-4486-8d93-b0213f19d636 |
Award
| Supplier | Value | Date | Status |
|---|---|---|---|
| IFF Research Limited | £150,000 | 24 Nov 2023 | active |
description
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.
notice history
2 notices published against this procurement.
| Published | Type | Regime | Notice |
|---|---|---|---|
| 17 Jan 2024 | Award (award) | · | 8da5aa21-cbf9-4d54-8628-38a4bb92eb65-714801 |
| 16 Jul 2024 | Award update (awardUpdate) | · | 8da5aa21-cbf9-4d54-8628-38a4bb92eb65-767603 |
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source
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