More than 500 people in Labasa took advantage of the HFC Bank Super Dream Government Grant Home Loan roadshow, yesterday.

Those who could not make it to the roadshow were able to hear live broadcast over the radio.

Loan requirement

Labasa branch manager Gail Dunn said the bank’s Super Dream Government Grant Home loan is for single or joint applicants with an annual income of not more than $50,000.

“This is the first time for live broadcasting on the bank’s home loans, with this live broadcast we received a good turnout from the residents of the North,” she said.

“Government Grant Home loan is a part of Government’s initiative to encourage first home ownership where $10,000 is given to those intending to build their first residential home and $5,000 for those intending to buy their first residential home.

“It’s awarded on a first come first serve basis, the loan will allow for amalgamation of other personal debt with housing loan provided that non-housing component of the funding is no more than 20 per cent of the total funding.

“The loan also have a 4.25 per cent fixed rate for first five years with 6.7 per cent variable rate thereafter.”

Labasa Resident Maika Rakabikabi said the loan is a great deal.

“The loan is a good one and it has alot of benefits, this type of loan is good for those who are about to start a new family,” he said.

She said it was a succesful roadshow because of the crowd turnout and the amount of interest shown in the product.

Age limit

Ms Dunn said all applicants must be above the age of 18 years.

“Applicants must expressly state in writing at the time of the application, his or her intention of using the grant towards his or her finances.”

She noted that there were free giveaways also for the Labasa customers.

“Discount fee of 50 per cent on the establishment fee for the first 20 customers in Labasa was offered.”

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