MONDAY, JULY 13, 1981
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HOME PURCHASE ASSISTANCE SCHEME FOR CIVIL SERVANTS
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THE GOVERNMENT TODAY ANNOUNCED DETAILS OF A HOME PURCHASE SCHEME AND A HOUSING LOAN SCHEME TO HELP CIVIL SERVANTS TOWARDS BUYING THE IR OWN HOMES.
A GOVERNMENT SPOKESMAN SAID THESE SCHEMES WERE DRAWN UP AFTER EXTENSIVE CONSULTATION WITH STAFF AND WOULD EXTEND DIRECT HOUSING ASSISTANCE TO MORE LOCAL OFFICERS.
UNDER THE HOME PURCHASE SCHEME, THOSE WHO ARE ON OR ABOVE POINT 38 OF THE MASTER PAY SCALE (AT PRESENT $8 515 PER MONTH), WHICH MAKES THEM ELIGIBLE FOR THE PRIVATE TENANCY ALLOWANCE OR NON-DEPARTMENTAL QUARTERS, CAN IN FUTURE OPT INSTEAD TO RECE IVE THE IR HOUSING ASSISTANCE IN THE FORM OF A HOME PURCHASE ALLOWANCE (HPA) TO PAY OFF THE MORTGAGE ON A FLAT.
AT THE SAME TIME, A FURTHER 13 000 CIVIL SERVANTS WHO ARE NOT RECEIVING ANY HOUSING ASSISTANCE AT THE MOMENT WILL ALSO BECOME IMMEDIATELY ELIGIBLE FOR THE HPA. THEY ARE EITHER ON MPS POINT 29 (AT PRESENT $5 585 A MONTH) TO POINT 37 (AT PRESENT $8 065 PER MONTH), OR HAVE HAD 20 OR MORE YEARS OF CONTINUOUS GOVERNMENT SERVICE. THEY MUST ALSO BE CONFIRMED TO THE PERMANENT AND PENSIONABLE ESTABLISHMENT OR HAVE SATISFACTORILY COMPLETED ONE CONTRACT TERM, NORMALLY OF 2-1/2 YEARS. OVER AND ABOVE THESE 13 000 OFFICERS MORE WILL BECOME ELIGIBLE MONTH BY MONTH AS THEY COMPLETE 20 YEARS OF GOVERNMENT SERVICE OR REACH MPS POINT 29.
UNDER THIS SCHEME, ELIGIBLE CIVIL SERVANTS WHO HAVE ENTERED INTO A MORTGAGE ARRANGEMENT FOR A PROPERTY IN HONG KONG WILL RECEIVE THIS MONTHLY ALLOWANCE.
THEY WILL HAVE TO LIVE IN THE FLAT THEY PURCHASE THROUGH THIS SCHEME UNLESS THEY ARE DIRECTED TO LIVE IN DEPARTMENTAL QUARTERS FOR OPERATIONAL REASONS.
SOME EXAMPLES OF THE HPA ARE $2 600 FOR OFFICERS ON POINT 16 OF THE MASTER PAY SCALE- $3 840 FOR THOSE ON POINT 29- $6 000 FOR THOSE ON POINT 38- $10 080 FOR THOSE AT THE TOP OF THE MASTER PAY SCALE AND $13 300 FOR THOSE AT THE TOP OF THE DIRECTORATE SCALE.
THE HPA WOULD BE PAYABLE FOR 120 MONTHS (10 YEARS) OR UPON COMPLETION OF MORTGAGE REPAYMENT, OR UPON THE OFFICER LEAVING THE SERVICE, WHICHEVER IS THE EARLIER.
IT COULD BE DRAWN WITHIN THE LIMIT OF THE OFFICER'S ALLOWANCE ENTITLEMENT UP TO THE AMOUNT OF THE MONTHLY MORTGAGE REPAYMENT. AN OFFICER WISHING TO BUY A HIGHER PRICED FLAT COULD TOP UP THE ALLOWANCE WITH HIS OWN RESOURCES.
/IN ADDITION