Loans for repairs 'flexible'
Interest-free maintenance loans could be granted to flat-owners even though their assets might exceed the $500,000 limit, Director of Buildings Dr Choi Yu-leuk said yesterday.
Dr Choi denied the financial restrictions for interest-free loans under the new voluntary Building Safety Improvement Scheme were too harsh.
'The spirit of providing interest-free loans is to help landlords with real financial problems so that the overall maintenance of a building would not be affected by an individual who could not afford it,' he said.
'We would have discretion when considering individual cases,' Dr Choi said on an RTHK radio programme.
Under the scheme, all flat owners can apply for up to $200,000 loans at 6.3 per cent interest to repair external walls, structures and fire escapes.
Those with assets, including their flat, of less than $500,000 and a household income of up to $12,000 a month could apply for interest-free loans.
Dr Choi said yesterday people outside that income bracket could apply for interest-free loans.
The owners of more than 20 buildings had expressed interest since the loan scheme was announced last week.
Dr Choi said the $500 million scheme could provide 3,000 loans in the first two years.
