{
  "url": "https://openlegislation.uk/social-security-housing-costs-standard-interest-rate-amendment-regulations-2010/note",
  "json_url": "https://openlegislation.uk/social-security-housing-costs-standard-interest-rate-amendment-regulations-2010/note.json",
  "legislation": "uksi/2010/1811",
  "legislation_title": "The Social Security (Housing Costs) (Standard Interest Rate) Amendment Regulations 2010",
  "legislation_url": "https://openlegislation.uk/social-security-housing-costs-standard-interest-rate-amendment-regulations-2010",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the standard rate which is used to calculate the amount of interest payable on a qualifying loan under the housing costs provisions of the Income Support (General) Regulations 1987, the Jobseeker’s Allowance Regulations 1996, the State Pension Credit Regulations 2002 and the Employment and Support Allowance Regulations 2008.\nRegulation 2 amends each of those sets of Regulations with the result that, on the coming into force of these Regulations, the standard rate is to be the effective interest rate for loans to households secured on dwellings (“the average mortgage rate”) published by the Bank of England in August 2010.\nRegulation 2 also provides that, after 1st October 2010, the standard rate is to be based on the average mortgage rate published by the Bank of England in respect of the most recent period for that rate specified at the time of publication. Changes to the standard rate are triggered when the standard rate and the average mortgage rate differ by 0.5% or more. When that happens, the Bank of England average mortgage rate becomes the new standard rate. For the purposes of calculating the weekly amount of housing costs to which a person is entitled, any change in the standard rate comes into effect on the day specified by the Secretary of State.\nRegulation 3 revokes regulation 2 of the Social Security (Housing Costs Special Arrangements) (Amendment and Modification) Regulations 2008 which provided for a standard rate of 6.08%.\nA full impact assessment has not been produced for this instrument as it has no impact on the private or voluntary sectors.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2010/1811/note",
    "retrieved_at": "2026-10-29T02:36:36.256223+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}