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Patsy McGlone 6th October 2010

McGlone Concerned at Impact of Mortgage Interest Relief Cut

SDLP MLA for Mid Ulster, Patsy McGlone, has expressed concern at the potential impact of a reduction in the Support for Mortgage Interest (SMI) scheme. The SMI scheme assists unemployed people receiving benefits with their mortgage interest payments. The scheme was originally calculated mortgage interest at a fixed figure of 6.08%, but in June's emergency budget this was reduced to only 3.63% from October this year. Advice NI has warned that thousands of households could face repossessions due to their inability to keep up with their mortgage interest payments

The SDLP Deputy Leader said, “This Tory/Lib Dem cut in benefit could lead to many people being made homeless as a result of an inability to meet their mortgage interest payments.

“I have already been contacted by constituents who, having been made unemployed in the economic crisis, are seriously worried that they will now lose their homes.

“Advice NI estimate that around 7,000 households claiming SMI face mortgage interest shortfalls.

“A number of these will be in the Mid Ulster area.

“I would urge anyone affected by the cut in SMI to contact either Advice NI, http://www.adviceni.net/, or my constituency office, on 028 8675 8175, for further assistance.”

 

ENDS