Mortgage Interest Supplement Review

A

ali

Registered User
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Hi All,

Brendan mentioned this payment is to be reviewed in the New Year. Any one have any further information or indication of what is likely to happen with this payment. My sister gets it and it is her lifeline.

Thanks,

A
 
A review of the Mortgage Interest Supplement scheme has been ongoing for some months - it's expected that the review will be completed in the New Year, at which time any recommendations, proposals etc will be announced.

The scheme hasn't been reviewed since its introduction in 1977. The review is looking at the current legislation and how it operates (or doesn't) in the modern mortgage/lending/home ownership climate.
 
Thanks Gipimann,

I understand it is difficult to forecast what changes if any will be effected, but I was hoping someone might have the inside track. I imagine with so many depending on it at the moment, it would be disastrous if it were withdrawn, with knock on effects on house repossesions, the rental market, and the banks. Hopefully it will not be hit too hard. I know that my sister for one would undoubtedly lose her house without it.
 
While I'm not party to any of the review details, I think it unlikely to be withdrawn as a scheme. I think it's more to update the schemes rules and regulations.
 
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