Nine more families expected to get mortgages through guarantee scheme
Nine families are expected to become first-time homeowners in the next year under a public-private partnership to provide support for mortgages, the Minister of Public Works said today.
Lieutenant-Colonel David Burch provided an update to the House of Assembly about the Bermuda Housing Corporation.
He said that the HomeStart programme, a partnership with Clarien Bank to provide financial assistance for mortgages, has helped “34 Bermudian families in their quest to become first-time homeowners”.
Colonel Burch added: “We are having further discussions with other financial institutions to expand the programme.”
He said: “Specifically to housing, over the next year — that being the 2023-24 fiscal year — barring any unforeseen circumstances, through the BHC, the Government will see the refurbishment of 48 affordable rental units, 42 new units added to the BHC rental stock, and over the next 12 months it is projected there will be nine new families who will become first-time homeowners under the HomeStart programme.”
• To read the minister’s remarks in full, click on the PDF under “Related Media”.
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