Support for Mortgage Interest
(asked on 6th March 2018) - View Source
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, whether the support for mortgage interest loan will have implications for a person's credit rating.
This question was answered on 12th March 2018
Support for Mortgage Interest (SMI) loans are not a typical credit product and as such will not appear on a customer’s credit report. There is no requirement to make monthly repayments and the loan is only recoverable on the sale or transfer of the customer’s property.