Which statement about the Support for Mortgage Interest scheme is false?

Which statement about the Support for Mortgage Interest scheme is false?

• A. It is a loan, secured by a second charge on the applicant's home.
• B. Payments from the scheme can be received for a maximum of 104 months.
• C. The interest rate charged is reviewed every three months.
• D. The minimum voluntary repayment is £50.

Answer: (C)

Support for Mortgage Interest is a government loan designed to help meet mortgage interest payments for people on eligible benefits. The loan is secured by a second charge on the applicant’s home, not a separate grant. Payments from the scheme can be received for up to 104 months. The rate charged on this loan isn’t reviewed every three months; it’s set by the government and adjusted at longer, less frequent intervals (not quarterly). The minimum voluntary repayment is £50. Because the quarterly rate review is not how the rate is handled, that statement is false.

Support for Mortgage Interest is a government loan designed to help meet mortgage interest payments for people on eligible benefits. The loan is secured by a second charge on the applicant’s home, not a separate grant. Payments from the scheme can be received for up to 104 months. The rate charged on this loan isn’t reviewed every three months; it’s set by the government and adjusted at longer, less frequent intervals (not quarterly). The minimum voluntary repayment is £50. Because the quarterly rate review is not how the rate is handled, that statement is false.