Subject:
"Income Support, capital and mortgage redemption"
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Geraint Jones
Macmillan Welfare Rights Officer, Gwynedd Council Welfare Rights Unit Member since 13th Nov 2006
Income Support, capital and mortgage redemption Thu 22-Nov-07 10:29 AM
Any thoughts on this scenario would be most welcome...
IS customer gets help towards his mortgage interest and is considering cashing in his occupational pension early which would give him a lump sum of around £26,000. Wants to pay about £20000 of this to reduce his mortgage. Would notional capital rules kick in if he does this or would it count as a debt which he's paid off??
