House Purchase Assistance Scheme amended to suit more first time buyers

The Department of Social Care has launched an amendment to its House Purchase Assistance Scheme.

With immediate effect the Department has raised the eligible income for those applying for assistance to purchase on the open market from £25,000 to £35,000.

The minimum grant for eligible applicants has been raised from £3,000 to £5,000.

The proposals received unanimous approval by Tynwald.

It’s estimated that it should help an additional 125 to 150 house moves over the next year.