Getting a Mortgage
How it Works
For people with disabilities or support needs ISMI (Income Support Mortgage Interest) benefit can help meet some of the mortgage costs.
This benefit will only ever help with the interest payable on a mortgage. The maximum amount of mortgage on which ISMI benefit can be paid is £100,000.
| ISMI benefit will pay the mortgage interest provided the person: |
| • |
Has been in receipt of Income Support, Incapacity Benefit or other related benefits for
39 weeks |
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They have moved into a home more suited to their needs as a person with disabilities |
| We have found that many decision makers in Benefits Agency offices are not familiar with these details and we have to quote the relevant regulations. |
The regulations surrounding ISMI are complex and this website can only detail a few of the main points. It is vital that anyone contemplating a mortgage and hoping for help from the Department of Works and Pensions gets expert advice before committing themselves.
Remember, your home may be repossessed if you do not keep up repayments on your mortgage.
Mysafehome has developed a unique mortgage for people with disabilities or support needs. This is enhanced by our Mysafehome® Discovery Process and the Mysafehome® Activation Program. This is then supported by the Mysafehome® Continuation Program. These four key components enable us to provide complete peace of mind to homeowners.
This means you can own your own home whilst you pay no mortgage or rent (subject to eligibility). However this is an interest only mortgage. The housing association could also be responsible for major repairs and maintenance of the property.
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