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SA launches Indigenous home loan scheme

Extract from Australian Broadcasting Corporation - ABC Online, on 29 April 2004


In what is being promoted as an Australian first, the South Australian Government is set to provide Aborigines with special housing loans.

The Nunga loan will not require a deposit and applicants will be eligible to borrow up to 3.9 times their annual gross income.

Housing Minister Jay Weatherill says less than 30 per cent of the state's Aborigines own or are buying a home, compared with 72 per cent for the rest of the population.

"This is an area where the traditional banks aren't providing lending opportunities," he said.

"We believe that there are a group of Indigenous people who with the support that this facility will provide will allow them access to home ownership."


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