New regulations have been issued in relation to the eligibility conditions for support for mortgage interest (SMI) loans.
Coming into force on 3 April 2023, the Loans for Mortgage Interest (Amendment) Regulations 2023 (SI.No.226/2023) make amendments to the Loans for Mortgage Interest Regulations 2017 (SI.No.725/2017) to reduce the qualifying period from nine months to three months and remove the current zero earnings rule so that universal credit claimants with earnings will now be eligible to claim.
In addition, the regulations introduce further changes that –
- remove the requirement to serve a new qualifying period for claimants who return to universal credit within six months and wish to start receiving loan payments;
- remove the requirement to serve a new qualifying period for claimants who return to a legacy benefit within the period of 52 weeks beginning with the day on which the claimant ceased to be entitled, or treated as entitled;
- remove the requirement to re-serve a qualifying period for mixed age couples where –
- one member of a couple is still a state pension credit claimant receiving loan payments when a joint entitlement to universal credit begins; and
- one member of a couple was formerly a state pension credit claimant receiving loan payments, provided their entitlement to universal credit begins within one month of the end of the entitlement to state pension credit
- ensure that the qualifying period of three consecutive assessment periods applies to all couples unless they fall within the mixed age couple circumstances specified above.
SI.No.226/2023 is available from legislation.gov.uk
