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senior partner
senior partner, Solicitor
Category: UK Property Law
Satisfied Customers: 13325
Experience:  30 years commercial law
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Does SMI (Support for mortgage interest) apply to private mortgages

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Does SMI (Support for mortgage interest) apply to private mortgages or only to mortgages provided by banks and Building Societies etc? (I am going to provide the money for a relation to buy her council house under the right to buy scheme and don't know whether to make it a loan or a mortgage).
Thank you for your question. The answer is no - it only applies to qualifying enders who are basically lending institutions. Your relative may be eligible for housing benefit but that is not paid direct to you the lender unlike SMI.

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