The move by Government to increase the ceiling for Low Income Mortgage Loans has been endorsed and will be supported by the Guyana Association of Bankers. In a statement issued yesterday,Carlton Fisk Jersey, the Association said that it welcomes the decision.It was at a meeting which saw the attendance of President Bharrat Jagdeo,Wholesale NFL Jerseys, Minister of Finance, Dr Ashni Singh,Wholesale China Jerseys, and Minister of Housing and Water,Wholesale NFL Jerseys, Irfaan Ali,Adidas Mike Ribeiro Jersey, that the Association was first enlightened of the move. At that very forum,Cheap Jerseys Store, frank discussions were ensued and government’s role in support of the housing drive was outlined.According to the statement, the successful opening up of several areas of the country for housing development by the government continues apace to the strong demand for housing by the lower income segment of the population.“At the same time the government has recognised that the cost of building a low income house has gone beyond the ceiling of $3M set in July 2009.”It was against this background that government had decided to raise the ceiling for those commercial banks that are approved Mortgage Lenders. The statement underscored that this state of affairs will in essence allow persons qualifying for such loans to have greater access to mortgage financing nationwide. A sum of up to $8M could be afforded persons to build their homes at the Low Income Mortgage rate offered only by the New Building Society at this time.“The Guyana Association of Bankers lauds the Government for this initiative which reinforces the government’s commitment to affordable housing of our people and to the contribution that housing development makes to national development.” The statement added that “this is consistent with its members’ policies and in keeping with our task of intermediation for the benefit of national development.”