Home Improvement Loans Not Sought After Like Car Loans Says Hurst

Lionel "Max Hurst, Government's Chief of Staff

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 5 percent interest rate.

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.

“People 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’t as forthcoming as they thought people would readily take the loan up.” Hurst explained.

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.

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.


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  1. This is pure nonsense. We can’t apply for home improvement loans if we don’t have homes to improve. We prefer going for the car loans because the public transportation system in Antigua and Barbuda sucks. Secondly if we were to get a second job to try and save to get a home we still would need transportation to get there. We are tried of getting to work late because of the bus that runs whenever they feel like and sitting at bus station for 40min to an hour minimum to get a bus to or from work. If we get there after 6:30 it’s a long and uncomfortable walk home.

    Secondly we are not being paid enough to get or build a home to require home improvement loans we can hardly survive on what is being paid now to have more taxes taken out and with no reprieve in sight.

      • He is a total cry baby. It wasn’t comfortable for me 20 years ago when I started either. But I made said sacrifices, held two jobs and stated paying a mortgage. I’m now 45 and done. We need to give this cry baby a pacifier. GROWTH IS NEVER COMFORTABLE.

    • Most men here buy a vehicle so they can chase after women, also it seems like most of our parents taught us not to get a home of our own, i personally would rather get that kinda loan than to get a vehicle loan, I’ll continue walking to work if i have to until i can build my own home or improve on the one that i own, i will continue to trust in the public transport system even if it means getting out of my house earlier than usual. And if i miss the bus then I’ll take a taxi. Most of us don’t own a home cause we take a vehicle loan, have to pay that back while having to buy gas, pay for servicing and parts,etc. A car can suck us try and that’s why to me a home improvement loan or morgage is way more important than a car.

  2. We can’t utalize it because too many taxes, low salaries (even pension is low), bill and food are tooooooo high so when the above are paid out first nothing is left. Cannot even eat the proper food to keep one healthy. So then how can most people take on other things. And added to that Government owes you gratuity and will not pay you for years.

  3. Or is it the banks and lending institutions are quicker to give a car loan than a loan to build a house. Even if you are married and both you and your spouse are working for a decent salary the banks still giving you hell.

  4. It is way too hard in Antigua and Barbuda to own house and land, so how am I to apply for an application to get a loan to improve a house I do not have when it seems as if you have to sell your soul in order to own a house and land in this Island. This shit is ridiculous. I am just fed up right now. It is easier to get a car loan than to go through the government system to purchase house and land.

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