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Housing costs
Standard Rate of Interest
Regulations made in November 2004 changed the method of calculating the standard interest rate for housing costs in income support, income-based Jobseeker’s Allowance and Pension Credit.
Customers do not need to contact their local office as this will be done automatically.
The rate is based on the Bank of England Base Rate plus 1.58%.
The rate of 6.58% will be effective from 12 May 2008.