SOCIAL HOUSING POLICY TO ASSIST HOME OWNERS

HA HOUSING LOAN WRITE OFF
April 16, 2012
TACIRUA HOUSING PROJECT
April 16, 2012

SOCIAL HOUSING POLICY TO ASSIST HOME OWNERS

The Fijian Government wants all its citizens to have access to a decent and affordable home within 10 years says Prime Minister Commodore Voreqe Bainimarama.

The new vision “affordable and decent housing for all communities by 2020” launched at the National Housing Policy stakeholders workshop in Suva on Thursday, January 13, was well attended by public and private sector bodies.

This new policy will be ready by the end of March, 2011 and will address constraints faced by public institutions including the Housing Authority of Fiji and the Public Rental Board.

These institutions are primarily responsible for the provision of quality and affordable homes/rental flats for our people in the urban and peri-urban areas, which now comprise 51 per cent of our total population.

This policy is also aimed at improving access to quality and affordable housing in the village and rural communities.

For the Housing Authority, its Board has recently approved a new housing loan rehabilitation policy that will assist its defaulting customers including those covered under its Village Housing Scheme.

“Like other countries in the region, the global financial crisis has impacted on our most vulnerable citizens, particularly those in the middle to low income groups,” Commodore Bainimarama said.

The home loan rehabilitation policy will assist Housing Authority customers, who own a home, however are finding it difficult to meet their loan repayments due to retirement, sickness, unemployment and disability.

Key features of the policy will target:
·       Customers who have paid more than twice the principal loan amount
·       Customers who are unemployed
·       For all Housing Authority customers who are facing financial difficulties

“This is a social policy and is in line with the government’s commitment to ensure Housing Authority plays a key role in empowering our people and promoting home ownership. This policy is not a handout but is a social desire to assist the marginalized and those most at risk of losing their homes,” the Prime Minister said.

“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.”

The Housing Authority has strict criteria and conditions in place to ensure the social housing policy achieves its objectives.

The policy will assist hundreds of middle and low income families around the country.

The MINFO News Team Wishes you a Successful, Blessed and Happy 2011!!

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