22 March 2018
Blog first published on Politics Home website on 22/3/18
On 5 April 2018, the Support for Mortgage Interest (SMI) benefit will be changed to a second charge loan. DWP via Serco has issued thousands of letters and made thousands of telephone calls to many current benefit recipients to let them know what is going on and what signing up to an SMI loan entails. But there are still up to 80,000 households who for whatever reason have either not yet engaged or in the case of around half of them may not have yet been contacted. This is a challenge that could well have a long tail with vulnerable borrowers seeing their arrears rise.