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DoI pilots mid rent scheme to help first-time buyers

Wed, 11 Jul 2018

A scheme aimed at helping Manx residents save a deposit for their first home has been launched in Colby.

The Department of Infrastructure is piloting a mid rent scheme on five Department-owned properties in the area.

The scheme allows tenants to rent a property at around 20% below market rate, making it easier to save a deposit for a home.

Five two-bedroom properties at Cronk Cullyn will be included in the pilot, but the DoI will add more properties in the future if the scheme is successful.

To be eligible for the scheme, residents must have lived on the Island for the last five years and not owned a property before.

More information and details of how to register for the scheme can be found on the Government's website.

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