DOI member responds to questions over plans for Shared Equity Purchase Assistance Schemes
MHKs have raised concerns over proposed changes to government's first time buyers scheme, as a six week consultation gets underway.
It's hoped the changes will make home ownership on the Island more accessible and affordable, with proposals around resetting the income thresholds and extending the interest-free period for new loans on the existing Fixed Scheme.
While under the First Home Choice Scheme, proposals include increasing the maximum loan assistance, introducing fixed-value repayment options, and a reduction in the residency requirement from five years to one.
That final point is something that was questioned - and criticised - during Tynwald question time:
Ramsey MHK Lawrie Hooper, the political member for the DOI, is encouraging people to submit their feedback via the consultation.
Meanwhile, with the end of the current administration less than a year away, Mr Hooper was asked if it was possible to introduce any of these changes in time.
He's been speaking to Manx Radio's Political Correspondent, Phil Gawne:
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