THE Government has recently implemented a Tenant Purchase Scheme whereby tenants of selected public rental flats may choose to purchase their flats at a discounted price. If you are eligible and are considering purchasing your flat, your attention is drawn to the following.

Under the existing rules, civil servants and their spouses should not receive more than one housing benefit at any one time. However, if you are eligible to join the Home Purchase Scheme (HPS) or Housing Loan Scheme (HLS), you are now allowed to finance the purchase of your public rental flat with the assistance from the schemes. The following examples show what assistance is available from the schemes.

Presuming that the price of your flat is $300,000 under the HPS, you may borrow a down payment loan of $90,000 (30% of the price of the flat) at a current interest rate of 9.475% from the Government. If the remaining 70% of the price is covered by a mortgage loan of $210,000 from a bank at an interest rate of 11.75% and the two loans will be repaid in 10 years, you will need to repay about $1,200 to the Government and $3,000 to the bank each month. Since you are entitled to a monthly housing allowance of at least $4,980 under the HPS, the total monthly loan repayment will be covered by the allowance.

If you are not entitled to join the HPS but have had 10 years of pensionable service, you may consider joining the HLS to secure a housing loan from the Government. Presuming that you have had 10 years of service and are drawing a monthly salary of $18,690, you can apply for a loan amounting to about $280,000 to buy the same flat mentioned in the first example and you will be at ease to settle the remaining $20,000 with your savings. At the current interest rate of 9.475%, your monthly repayment to the government loan will be about $3600 if the loan is repaid in 10 years.

These two examples are only for your reference. When you plan to buy a property with the assistance from the schemes, you must take into account all other related expenses. Should you have any query about the calculation of the loans under the schemes, please call the Staff Relations Hotline on 2866-7519.

We will discuss the eligibility of joining the HPS and HLS in upcoming issues of OFFBEAT.

POLICE OFFICERS' CLUB Change Your POC Car Park Label Now!!! Please be aware that POC 1998 car park labels ate now available for collection. Please ensure that you bring a copy of your registration document or alternatively fax the document through to POC on 2838-9665. When collection your label if you submitted only the copy on application, please show the reception staff your original registration document. The 1997 car park labels expired on 1 February. Vehicles now found displaying old labels will be charged at the guest rate of $20 per hour. To avoid problems change you car park label now. The price of the car park label remains unchanged at $30 per vehicle. GO SURFIN' IN THE BEAT CAFE Attention all internet surfers! The Beat Cafe now has its own internet terminal. There is no charge for usage but members must purchase at least one beyerage (coffee, soft drink, fruit juice, etc) in the cafe before they can log on. Time on line depends on demand, usually 30 minutes if others are waiting, which can be checked from the waiting list booklet next to the terminal. Who To Contact at POC For all catering-related bookings please contact Raymond Fan Wai-lun on 2591-1924. Venue and facility enquiries may be directed to the POC Reception on 2591-1911, of 2591-1930. Function Room bookings can be arranged by calling Kathy or Katherine on 2591-1912. Investment Seminar with Towry Law International Thursday 12 March, from 6pm until late. Open to all POC members. Drinks and snacks will be provided. Revised POC Children's Play Group 1998 Schedules Mon from 2:30pm to 4:30pm; Tues from 10am to noon; Wed from 2:30pm to 4:30pm; Thurs from 10am to noon. Enquiries Lesley or Karen on 2549-3464. SUPER CIRCUIT TRAINING/WORKOUT AT POC ENTRY FORM Name ___________________________ UI # ___________________________ Improvers (Mon & Fri training programme) ________________________________ Advanced (Tues & Thurs training programme) ________________________________ Phone: Mark Sharp: 2591-1930 Fax: 2838-9665

This year's Spring Re-Union will be held from Friday 8 May to Sunday 10 May at the Embassy Hotel, Bornemouth with the AGM at 10 a.m. on Saturday 9 May.
The Reunion starts with afternoon tea on the Friday. The full board tariff is GBP 98 per person. If accommodation is not required, lunch and/or dinner can be reserved at very reasonable prices.
The London Chinese Lunch will be held on Saturday 11 July at the New World Restaurant, Gerrard Place, London W1, starting at 12 noon. The cost of GBP 17 per head includes a nine course lunch and wine, (a cash bar for other drinks is available).
Any Hong Kong member who will be in UK at this time and wants to attend either of these functions should contact the local representative (Mac Mcloughlin, CSP A NTN on 2666 4222 for a booking form.

Leave Homes

FORCE holiday bungalow accommodation is available from February 25 to March 22 for Gazetted and Inspectorate officers and their civilian counterparts as follows:

Interested colleagues should obtain a letter of introduction from the Personnel Services Branch Holiday Facilities Unit and contact the hotels directly for reservations.