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Changes to mortgage supplement

  • 02-01-2012 10:10PM
    #1
    Annasopra
    Registered Users, Registered Users 2 Posts: 41,220 ✭✭✭✭


    Budget 2012
    It was announced in Budget 2012 that the minimum contribution towards Mortgage Interest Supplement will increase. This change requires legislation and is not yet in effect.

    The minimum contribution for the purposes of the Mortgage Interest Supplement scheme will increase by €6 to €30 per week for a single person (from €24 per week). The minimum contribution payable by couples will be €35 per week. (January 2012)

    Payment of Mortgage Interest Supplement will be deferred for 12 months while the person engages with the Mortgage Arrears Resolution Process. This approach is consistent with the reports of the Mortgage Arrears and Personal Debt Group and the Inter-Departmental Working Group on Mortgage Arrears. (2012)

    Can someone explain what the part in bold means - does it mean if I haven't been engaged in the MARP that they will stop paying the mortgage assistance?

    It was so much easier to blame it on Them. It was bleakly depressing to think that They were Us. If it was Them, then nothing was anyone's fault. If it was us, what did that make Me? After all, I'm one of Us. I must be. I've certainly never thought of myself as one of Them. No one ever thinks of themselves as one of Them. We're always one of Us. It's Them that do the bad things.

    Terry Pratchet



Comments

  • #2
    amtw
    Registered Users, Registered Users 2 Posts: 274 ✭✭amtw


    I think it is highly unlikely that they will stop paying MIS to someone who is already in receipt of the payment. Changes to qualifying conditions usually only apply to new applicants.

    I suggest that anyone worried about theirs MIS should contact their local Money Advice and Budgeting Service (MABS) who will assist them in negotiating with their bank or building society. They will also guide them through the process of engaging with the Mortgage Arrears Resolution Process.


  • #3
    dave1982
    Registered Users, Registered Users 2 Posts: 4,604 ✭✭✭dave1982


    I can only assume that applies to new people claiming.


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