A bank proposal to make home loans available to lower income individuals who could not afford to make the initial 10 per cent deposit merited further discussion, Family Minister Michael Farrugia said today.
Describing the APS Bank proposal as "interesting", Dr Farrugia said such a scheme could help several people struggling to get on the home ownership ladder. The proposal is aimed at people who can afford to make loan payments but lack the capital to make a 10 per cent deposit.
The minister was speaking at an Anti-Poverty Forum conference with the theme 'An effort for shelter'.
He said that the government was currently talking with contractors to sort out concerns about high rents, and that the doubling of a rental subsidy announced by the government would help ease social housing pressures.