The Housing Authority Board has approved a new housing loan rehabilitation policy that will assist the Housing Authority Customers who are finding it difficult to meet their loan repayments due to retirement, sickness, unemployment and disability.
Prime Minister Commodore Voreqe Bainimarama said this policy is also aimed at improving access to quality and affordable housing in village and rural communities.
The policy will also assist those defaulting customers who are covered under the Village Housing Scheme.
The new housing loan rehabilitation policy will target customers who have paid more than twice the principle loan amount, customers who are unemployed and those customers who are facing financial difficulties.
Commodore Bainimarama has stressed that this policy is not a handout but is a social desire to assist the marginalized and those who are at risk of losing their homes.
The policy will assist home owners by either writing off their full loan amount remaining, partial loan write off and as a temporary measure, assist unemployed citizens by freezing the interest and fees on the loan balance for up to 12 months.
Hundreds of middle and low income families are expected to be assisted under the policy.
Story by: Shalvin Deo
