The Government is working towards drawing up schemes which would be specifically addressing the needs of the 20% of the population who cannot afford to raise the 10 per cent deposit for their home loan.
What is being proposed?
- The First Time Buyers scheme is extended by another year
- A revision in the First Time Buyers scheme which would allow those who already own a garage to still be eligible to buy a property
- A development plan which would include high-rise buildings
- Żminijietna proposed that the inequality that exists in the property market needs to be addressed, focusing especially on the needs of those who cannot afford to pay rent
- According to the Ministry, the Government would be announcing measures that which will help those families who do not own their residence
- A shared ownership housing scheme
- A government mortgage guarantee
- A deduction of the loan interest from taxes
- A national property study