Clarify NHT loan scheme
published: Monday | May 12, 2003
THE EDITOR, Sir:
This is an open letter to the P.M.
I SAW in the newspaper where the Prime Minister clarified rules for NHT loans. He stated that a maximum of $1 million per person if two persons joined and a maximum of $800,000 per person if one or more than two persons join.
What about those people who acquired house through other institutions and would like a loan from NHT to improve these houses? Why are we allowed to borrow only $200,000 when a set percentage of our salaries is being deducted each week/fortnight/month like everyone else? We are not paying less NHT contributions, so we should be allowed to borrow $800,000 like other people.
And to add insult to injury, if you get your house through NHT you can still borrow from them to improve it. Why the discrimination against those who acquired their homes from other institutions? How much improvement can $200,000 do? Have a heart and please re-evaluate this issue, especially for those who have quads and really need to improve/extend them so that their families do not have to be sleeping in one room.
