Alberta seniors reno loans could be in place by July

A scheme to help seniors make changes to their homes so they can stay in them longer have been announced by the Alberta government. The Seniors’ Home Adaptation and Repair program has been hailed by the province’s minister for housing and seniors Lori Sigurdson and could be introduced in July if the bill is passed.

However, Calgary senior Bea McLaren told the Calgary Sun that the loans, which would be repaid from home equity on the owner’s death or if the home was sold, would bring “heartache down the road.” She branded the idea “outrageous” saying that the government will save money by people staying in their own homes and profit from the scheme too.

Seniors advocates believe that the program will be of benefit to many seniors; the government estimates 260,000 will be helped.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Investment Hot Spots:
Port Hawkesbury, West Pugwash, Pender Island, Thompson, Little Britain

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Poll

Have your investment plans changed for 2017?