sch.1-sec.7Terms of repayment

### sch.1-sec.7 Terms of repayment Repayment of principal and interest on a loan granted to an applicant under the scheme will be— initially calculated using a period of up to the maximum term of the loan; and tailored to the applicant’s individual requirements based on the applicant’s income patterns. The authority may give the applicant a period of not more than 10 years to make interest only repayments. sch 1 s 7 amd 2016 SL No. 183 s 5 ; 2024 SL No. 153 s 5 (sch.1-sec.7-ssec.1) Repayment of principal and interest on a loan granted to an applicant under the scheme will be— initially calculated using a period of up to the maximum term of the loan; and tailored to the applicant’s individual requirements based on the applicant’s income patterns. (sch.1-sec.7-ssec.2) The authority may give the applicant a period of not more than 10 years to make interest only repayments. - (a) initially calculated using a period of up to the maximum term of the loan; and - (b) tailored to the applicant’s individual requirements based on the applicant’s income patterns.