Below is the text of Mr Major’s written Parliamentary Answer on Mortgage Interest Payments on 10th March 1987.
Mrs. Beckett Asked the Secretary of State for Social Services if he intends to amend the regulations which restrict payment of mortgage interest in the first weeks of unemployment; and if he will make a statement.
Mr. Major We are proposing to amend the regulation, which provides for a disregard in supplementary benefit assessments on income received from an insurance policy taken out to protect mortgage interest repayments. Our intention was that one half of any such income should be disregarded, but, as drafted, the regulation provides for the disregard of an amount equivalent to the full interest. This amendment will be included in the uprating regulation for the supplementary benefit residential care and nursing homes limits. We have no plans to make any further changes to the regulations covering the amount of mortgage interest included in supplementary benefit.