2. What loans are covered?
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2. What loans are covered?
SMI loans can cover ‘owner-occupier payments’. These can be ‘loan interest payments’ or ‘alternative finance payments’.Loan interest payments are interest payments on any loan secured on your home. Alternative finance payments are those made under alternative finance arrangements (such as sharia-compliant loans) set up to enable you to buy your home.
LMIR Regs, Sch 1 , para 5
Liability
You must be liable to make owner-occupier payments. You are also liable to make such payments if your partner (including if you are one of a couple but claiming as a single person – see Chapter 14(3) ) has a liability to make them.
The circumstances in which you will be treated as liable to make payments are the same as those that apply for the universal credit housing costs amount (see Chapter 20(3) ).
You are treated as not liable to make payments if:
    ■you are liable to pay them to anyone living in your household;
    ■the payment is more than you usually pay and has been set
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