Support for Mortgage Interest
(asked on 5th March 2018) - View Source
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, for what reasons the replacement loan for support for mortgage interest payments is based on the Gilt interest rate.
This question was answered on 8th March 2018
SMI loans are interest bearing at the Gilt Forecast Rate, as set out in the most recent forecast by the Office for Budget Responsibility (OBR). This rate was chosen as this reflects the cost of the Government borrowing to fund SMI loans.