← Back to list

Developer-sourced loan proposal to be explained to Cabinet

Sep 13, 2016

The cabinet will discuss a controversial proposal to allow housing developers to grant loans to homeowners tomorrow. 

The Urban Wellbeing, Housing and Local Government Ministry says the meeting will focus on whether developers could provide loans to potential buyers who face problems obtaining bank loans.

Its minister says the loans are also meant to help those who have trouble making upfront payments.

He also said that the proposal is nothing new, as some developers have done it in the past.