Mortgages and mortgage advice, this is your route

  Home  |  About Mortgages  |  Sourcing Tools  |  Calculators  |  Key Facts  |  A to Z       Contact Us
You are here: Mortgage Route > Glossary A to Z > Letter D
 

The Mortgage Route A to Z
DSS payments

This glossary or A to Z should help clear up any confusion as to what terms mean what in the mortgage and insurance industry

Did this page help you?

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Letter D

DSS payments now known as DWP

These are payments received from the Department for Work and Pensions, formally the Department of Social Security, towards the payment of a mortgage.

For loans arranged after 2nd October 1995 benefits are paid after the 39 weeks of the benefit claim. Borrowers whose loans completed before this date will receive assistance at 50% of the amount payable after the first eight weeks of a claim increasing to 100% after a further 18 weeks in addition under the new rules they will also only fund the interest costs on the first 100,000 of your debt. 

Please note the payment will only meet the interest cost of the mortgage and as stated there are certain limits to the level of mortgage that the DWP will actually pay the interest on (contact the DWP for the current limits) over these limits remains the responsibility of the borrower.

FSA declaration and important text about mortgage advice