{"id":102656,"date":"2020-02-15T11:57:33","date_gmt":"2020-02-15T15:57:33","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=102656"},"modified":"2020-02-15T11:57:33","modified_gmt":"2020-02-15T15:57:33","slug":"home-improvement-loans-not-sought-after-like-car-loans-says-hurst","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/home-improvement-loans-not-sought-after-like-car-loans-says-hurst\/","title":{"rendered":"Home Improvement Loans Not Sought After Like Car Loans Says Hurst"},"content":{"rendered":"
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The Caribbean Union Bank (CUB) revealed a gross undersubscription of the Home Improvement Fund (HIF), a loan the government allocated EC $5 mil for low-income earners.<\/p>

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Antiguans and Barbudans would be allowed to borrow up to fifty thousand dollars, through the CUB that is partly owned by the government, to repair their home at a 5 percent interest rate.<\/p>\n

According to Lionel Hurst, Chief of Staff, the reason for the low applications to the programme could be the existing car loans which the homeowners already have.<\/p>

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\u201cPeople in Antigua and Barbuda have shown a preference for owning vehicles. It is really difficult to already have borrowed money to buy a vehicle, to also borrow money to improve on homes. The bank itself said that people weren\u2019t as forthcoming as they thought people would readily take the loan up.\u201d Hurst explained.<\/p>

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Even with a simpler application form developed for the HIF so as to make the process as easy as possible, CUB reported minimal applications for the fund that was launched in November 2019.<\/p>\n

To apply for the loan part of the stipulations of the loan agreement is that homeowners must first have an estimate of the repairs, be able to prove earnings, and must be able to repay the loan over a period of 10 years.<\/p>

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The Caribbean Union Bank (CUB) revealed a gross undersubscription of the Home Improvement Fund (HIF), a loan the government allocated EC $5 mil for low-income earners. Antiguans and Barbudans would be allowed to borrow up to fifty thousand dollars, through the CUB that is partly owned by the government, to repair their home at a […]<\/p>\n","protected":false},"author":3,"featured_media":14189,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-102656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nHome Improvement Loans Not Sought After Like Car Loans Says Hurst - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/home-improvement-loans-not-sought-after-like-car-loans-says-hurst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Improvement Loans Not Sought After Like Car Loans Says Hurst\" \/>\n<meta property=\"og:description\" content=\"The Caribbean Union Bank (CUB) revealed a gross undersubscription of the Home Improvement Fund (HIF), a loan the government allocated EC $5 mil for low-income earners. Antiguans and Barbudans would be allowed to borrow up to fifty thousand dollars, through the CUB that is partly owned by the government, to repair their home at a […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/antiguanewsroom.com\/home-improvement-loans-not-sought-after-like-car-loans-says-hurst\/\" \/>\n<meta property=\"og:site_name\" content=\"Antigua News Room\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antiguanewsroom\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-15T15:57:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mlavawteztbj.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2018\/04\/max-hurst.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"524\" \/>\n\t<meta property=\"og:image:height\" content=\"349\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:site\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/antiguanewsroom.com\/home-improvement-loans-not-sought-after-like-car-loans-says-hurst\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/antiguanewsroom.com\/home-improvement-loans-not-sought-after-like-car-loans-says-hurst\/\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5\"},\"headline\":\"Home Improvement Loans Not Sought After Like Car Loans Says Hurst\",\"datePublished\":\"2020-02-15T15:57:33+00:00\",\"dateModified\":\"2020-02-15T15:57:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/antiguanewsroom.com\/home-improvement-loans-not-sought-after-like-car-loans-says-hurst\/\"},\"wordCount\":225,\"commentCount\":9,\"publisher\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/antiguanewsroom.com\/home-improvement-loans-not-sought-after-like-car-loans-says-hurst\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:524\/h:349\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2018\/04\/max-hurst.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/antiguanewsroom.com\/home-improvement-loans-not-sought-after-like-car-loans-says-hurst\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/antiguanewsroom.com\/home-improvement-loans-not-sought-after-like-car-loans-says-hurst\/\",\"url\":\"https:\/\/antiguanewsroom.com\/home-improvement-loans-not-sought-after-like-car-loans-says-hurst\/\",\"name\":\"Home Improvement Loans Not Sought After Like Car Loans Says Hurst - 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