Inclusion, Equality and Social Welfare

The aim of the Scheme is to assist people who despite being eligible for a home loan do not have the necessary liquidity to pay the required 10% down payment on the signing of the promise of sale. Whilst the applicant will be paying this personal loan, the Housing Authority will be financing the interest incurred on this loan during the whole term.

This scheme is intended for those applicants who are unable to purchase their residence without the help of Housing Authority. The Scheme, will apply for persons who intend to buy their residence by purchasing at least fifty per cent of the property whilst the rest will have to be purchased by them at later stage. 

After twenty (20) years, the applicants will be obliged to purchase the Housing Authority’s share by paying the same price paid by the Authority Housing. APS Bank plc, will be granting applicants a loan to purchase a property in finished and habitable state or in shell form state which can be rendered to a habitable state.

The Scheme - Grant on the Acuisition of a Residential Property is intended for people who acquired their first property after January 1, 2022. This grant, which will amount to ten thousand euros (€10,000), will be given over a period of ten (10) years to the applicant who has acquired property whose value does not exceed five hundred thousand Euros (€500,000). The grant will be given through payments of one thousand euros (€1,000) once a year.

With this scheme the Housing Authority will give young people a helping hand in the first crucial years after they have made this important investment in their lives and thus encourage them to become owners of their home.

The grant to assist owners in the completion of the first home provides financial assistance to all first time buyers; no income threshold applies. Grants are intended as part compensation of expenditure in respect of the cost of construction and/or completion or rehabilitation works.

The owners of first residences, who due to an increase in the number of family members they require to construct additional rooms or carry out various alteration

This scheme provides an opportunity for applicants to continue living in their current dwelling, and at the same time making their dwelling more accessible. 

Lifts are installed where it is physically possible and in Government owned residential blocks.

This scheme is intended to provide an effective remedy to individuals or couples who are currently impeded from accessing the property market despite their purported bankability in terms of ordinary lending practices adopted by the local commercial banks

This Scheme provides a housing benefit to tenants on rent paid for premises leased as ordinary residence of the applicants and their family thus rendering the rent more affordable.

For the first time this benefit is being calculated not only on the applicants’ income but also on their rent expenditure