The
National Housing Trust (NHT) has introduced a new Cluster Housing
Policy.
It allows groups of individuals to buy a single parcel of land that is large enough to be subdivided.
A maximum nine lots are allowed under this new arrangement.
Each applicant will be able to get the maximum allowed under the Individual House Lot Loan Programme.
The maximum loan available is $1.2 million per applicant.
The NHT will allow a maximum of 30 per cent of the amount to be borrowed to cover infrastructure costs.
In addition, two applicants may apply to purchase one lot in the same subdivision.
However, there are certain conditions under which the NHT will make funds available.
These include an indication from the Parish Council that it has no objection to the land being divided.
A statement from the NHT says the policy takes immediate effect.
It allows groups of individuals to buy a single parcel of land that is large enough to be subdivided.
A maximum nine lots are allowed under this new arrangement.
Each applicant will be able to get the maximum allowed under the Individual House Lot Loan Programme.
The maximum loan available is $1.2 million per applicant.
The NHT will allow a maximum of 30 per cent of the amount to be borrowed to cover infrastructure costs.
In addition, two applicants may apply to purchase one lot in the same subdivision.
However, there are certain conditions under which the NHT will make funds available.
These include an indication from the Parish Council that it has no objection to the land being divided.
A statement from the NHT says the policy takes immediate effect.
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