Support for Mortgage Interest
(asked on 23rd November 2017) - View Source
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, at what rate interest will be set on support for mortgage interest when that benefit becomes a loan rather than a grant in April 2018.
This question was answered on 29th November 2017
Interest will be charged on SMI loans based upon the cost of gilts as published by the Office for Budget Responsibility (OBR). This rate reflects the cost of Government borrowing. The Gilt Rate Forecast for 2018-19 is 1.5%, as specified in the latest Economic and Fiscal Outlook published on the 22nd November 2017 by the OBR.