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type: Answer
type: WrittenAnswer
answer has question: elXHbLGj
answer has answering person: GR6SZK1Z
answer text: An increase to the rate paid through the SMI scheme was triggered on Wednesday 29th March 2023. The rate will increase from 2.09% to 2.65% and will be implemented no later than 10th May 2023. The rate of SMI payments only changes when the Bank of England’s average mortgage rate differs by 0.5 percentage points or more from the standard interest rate.
answer given date: 2023-04-17+01:00
answer has answering body: XbTBTDMo
written answer has answering body: XbTBTDMo