Support for Mortgage Interest

A Contract Award Notice
by DEPARTMENT FOR WORK AND PENSIONS

Source
Contracts Finder
Type
Contract (Services)
Duration
1.5 year
Value
£150K
Sector
PROFESSIONAL
Published
17 Jan 2024
Delivery
17 Nov 2023 to 17 May 2025
Deadline
29 Sep 2023 09:00

Concepts

Location

Geochart for 1 buyers and 1 suppliers

1 buyer

1 supplier

Description

SMI provides support to out of work and retired mortgage holders claiming income-based benefits. It aims to prevent repossession by making a contribution towards mortgage interest payments. Initially provided as a benefit, in April 2018 SMI changed from a benefit to a loan repayable upon the sale of the property.

Award Detail

1 IFF Research (Lower Thames Street London)
  • Value: £150,000

CPV Codes

  • 73000000 - Research and development services and related consultancy services

Indicators

  • Contract is suitable for SMEs.

Other Information

SMI loans are available to claimants on certain benefits to help meet the interest payments on their mortgage. SMI is paid as a loan, which the recipient will need to repay with interest, usually when they sell or transfer ownership of their home. To be eligible for a SMI loan, the claimant needs to be in receipt of one of the following qualifying benefits: Income Support, income-based Jobseeker's Allowance (JSA), income-related Employment and Support Allowance (ESA), Universal Credit or Pension Credit. n/a Order form Schedule 6 - signed.pdf Restriction on email files in Jaggaer Email files and Jaggaer.pdf Sources of Jaggaer guidance User Guidance Note.pdf

Reference

Domains