U.K. May Charge Welfare Recipients for Long-Term Mortgage Aid
This article is for subscribers only.
The U.K. government is considering whether to impose a charge on long-term welfare recipients who sell their homes in return for helping with mortgage payments.
The Department for Work and Pensions currently pays 400 million pounds ($625 million) a year to welfare recipients under its Support for Mortgage Interest program. It’s paid at 3.63 percent, regardless of the loan rate, on as much as 200,000 pounds of debt.