Government says its first time buyer scheme now needs a re-think.
Treasury will submit an extension to it to Tynwald despite saying it's coming to the end of its strategic lifecycle and ready to expire.
The department is working on a new scheme which includes shared equity - meaning homes would only be part owned by house buyers.
Minister Eddie Teare says it’ll be ready in six to nine months, and is set to be more sustainable, fairer to taxpayers, and better suited to borrowers.
He says it’s important to help boost the next generation:
Illegal immigrant turned back at Manx border can't stay in UK
Bank scammers warning as calls target Island residents
Island to extend UK VAT cut on power, says Treasury Minister
Woman thanks mystery van driver after daring sea rescue
Stay off damaged slipway in Laxey, says local authority
MHK sues attorney general and returning officer over election votes
Islanders reminded to keep challenging domestic abuse beyond October
Comments
Add a comment