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61 applicants benefit from First Home Buyer Policy

October 10, 2018 5:27 am

The Housing and Community Development Ministry has approved $545,000 in the first two months of this financial year.

This was done to cater for sixty-one successful applicants who are first home buyers through the First Home Buyer Grant Policy.

Permanent Secretary, Joshua Wycliffe says they received seventy applications out of which sixty-one has been approved.

Wycliffe says the initiative has now been categorized in two sections and the government has allocated $10 million for this financial year.

“If your household income was below $50,000 threshold than just for a readily build home you will be able to take a grant of $5000 but for a land and house package if your income was below $50,000 then you are allowed $10,000 .Now things have changed and we now have two categories and we have included those who are earning more than $50,000 they are eligible for a grant of $5000 and $10,000.”

Since its inception in 2014, the Government has set aside a budget of over $20.6m for the First Home Buyer Grant Policy.