NEWS | Wednesday, 21 May 2008
Equity sharing scheme being ‘modified’
The Social Policy Ministry yesterday said the Housing Authority will be modifying the equity sharing scheme, after the aid scheme for first-time home buyers was suspended.
It pointed out that when the scheme was launched in February last year, it was declared that the authority would process at least 250 applications on the basis of first come, first served.
The ministry said the scheme would be restructured in order to be sustainable. It said 242 applications have already been approved, benefiting 103 persons who were paid the total sum of €2,751,824. The other 139 applications are being processed, for the combined aid of €3,802,949.