New home loan facility to help low income earners
05:07 Fri Dec 08, 2017
Taken from/By: FBC News
Report by: Savaira Tabua
The Housing Authority of Fiji has introduced its new home loan facility in an effort to ensure low and middle income wage earners are able to own a home.
This was confirmed by the Minister for Housing Praveen Bala when he officiated the ground breaking ceremony for the development of 754 lots at the Davuilevu Subdivision yesterday.
Bala says the new rates are 3.95 percent per annum with interest rate fixed for one year while 4.2 percent fixed for four years and variable rate of 6.99 percent thereafter.
He says this will include constructing and purchasing of a house and refinancing of loans from other lenders.
Meanwhile out of the 754 lots developed at Davuilevu, 301 residential lots will be completed by August next year with the remaining lots to be completed by September 2019.
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