News Release Archive
FINANCE--FIRST TIME HOME BUYERS REBATE PROGRAM ----------------------------------------------------------------- Finance Minister Bill Gillis has announced some rule changes for the province's First Time Home Buyers Program to protect the rebate for those who have already had their applications approved. "There has been some concern that people who had made a commitment to buy a home, and been pre-approved for the rebate, would have been hurt by the changes to the program. The new rules ensure that where the province has approved a rebate amount, that money will be paid, whether the house sale is completed by March 31, 1997 or not." All applicants who have received pre-approval for the First Time Home Buyers rebate will, in all instances, be rebated the amount pre-approved up to the limit of $3,000. Recent pre-approvals contained the stipulation that a house sale must be closed on or before March 31, 1997. That stipulation will no longer be in effect. The First Time Home Buyers Program will continue. However, the province has, as of midnight yesterday, ended its practice of offering pre-approved rebates. -30- Contact: Steve Warburton 902-424-3522 jlw Feb. 28, 1997 6:00 p.m.