Statutory Charge on Loans - Loans for Mortgage Interest Bill - screening

The primary purpose of Support for Mortgage Interest (SMI) is to protect owner-occupiers receiving an income-related benefit from the threat of repossession. In April 2018, SMI changed from a benefit to an interest bearing loan. The loan is only recoverable from any equity on the sale, transfer of ownership of the property or when the claimant dies. If there is insufficient equity to repay the total of the loan, the Department will write off any amount that cannot be repaid.