Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, if her Department will make an assessment of the potential impact of changes made to Support for Mortgage Interest in 2018 on people in receipt of that loan.

The Department published research looking at Support for Mortgage Interest (SMI) loan take-up in March 2022. This is available here:Support for Mortgage Interest (SMI): Overview - GOV.UK The Department has also commissioned further research looking at the impact of SMI on existing loan recipients. The report will be released in due course.

The Department does not have any plans to revert SMI to a benefit. When SMI transitioned to a loan in April 2018, support was provided at the same level and therefore, it provides the same level of protection against repossession. Loans are repayable from any available equity when the property is sold and therefore, the policy represents excellent value for the taxpayer whilst continuing to protect homeowners.