Elderly homeowners in Northern Ireland could defer paying rates bills until after their death, when their property is sold, under new Executive proposals.

The announcement by Finance Minister Nigel Dodds yesterday, means all pensioners in the Province could be eligible for the equity scheme, should they meet certain criteria.

The over 65's must own and occupy their homes, and meet minimum equity levels.

The new policy outline is current looking for public input. Discussing his plans, Minister Dodds said: "This scheme will enable pensioners, who own their own homes and who are ineligible for means tested rate relief or housing benefit, to postpone payment of their rates bill."

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"This forms part of a wider package of measures that the Executive has targeted towards pensioners. A new lone pensioner allowance was introduced in April, providing a 20% reduction for pensioners aged 70 or over who live alone."

"It is not means tested. The level of savings that pensioners can hold under the rate relief scheme, meanwhile, has been increased to £50,000 from April this year."

Mr Dodds has stressed this new policy is merely a payment choice allowing rate bills to be postponed.

Potential applicants will enter into an agreement and will be advised to seek expert advice before making any decision.

Mr Dodds' department has stressed that this new scheme would be a long-term financial commitment, with complex legal matters. This could mean those who would benefit most from the bill may be hesitant to apply.

The minister said: "In recognition of the difficult decisions involved, it is proposed that participants would be made fully aware of the possible financial implications of the scheme, through independent advice."

The Finance Department will seek consultation for 12 weeks before making a final decision. Should the bill be successful it could be implemented as soon as next year.

(PR/JM)