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Thu 11 Nov 2008First-time loan plan subject of complaint
THE GOVERNMENT'S new "Homechoice" loan scheme for first-time house purchasers is being challenged in Brussels on the basis that it is confined to newly-built homes and excludes second-hand and self-build houses.
More than 250 people have lodged a formal complaint to the European Commission's Directorate-General for Competition, claiming that the scheme is anti-competitive and constitutes "unlawful State aid" to property developers.
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