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A
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D
E
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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.
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