From Mortgage Strategy*:
The Support for Mortgage Interest scheme, due to expire next month, has been extended until March 2015.
Borrowers [who have been unemployed for more than] 13 weeks are currently eligible for the support, which replaced the 39-week [waiting] period in 2009, and the qualifying loan size increased [from £100,000 to £200,000]. Both were due to revert back [to the old limits] in January 2013...
CML director general Paul Smee says: "We welcome the extension of the current arrangements for the support for mortgage Interest scheme until March 2015. These had been due to expire in January 2013 but today’s announcement provides a welcome extension of support for homeowners currently receiving income related benefits, as well as helping lenders to extend forbearance to those waiting to qualify."
* Via Dill at HPC.
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