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'Grant changes will stimulate housing market'

by isleofman.com 16th July 2011

The Department of Social Care says changes to a scheme supporting buyers of houses in the Isle of Man should help an extra 150 people in the next year.

The changes were given the go-ahead by Tynwald this week, and mean those earning up to ?35,000 a year can now get minimum grants of ?5,000.

Previously the House Purchase Assistance Scheme could only help people on ?25,000 or less, and the minimum grant was ?3,000.

Minister Martyn Quayle says the revised programme will stimulate the housing market, help people to move up the housing chain, encourage spending in the local economy and help protect jobs.

Posted by isleofman.com
Saturday 16th, July 2011 04:48pm.

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