The introduction of a mortgage guarantee scheme in 1956 meant that more and more households could access the mortgage market. Since the government guaranteed that the loan would be paid off, lenders were willing to take on additional risk, and were able to loosen their downpayment constraints.
These related broadly to the (i) the sources of livelihood of the potential consumer segment for financial inclusion (ii) how they spend their money, particularly on non-regular items (iii) their choices and motivations with respect to saving and (iv) their motivations for borrowing and their ability to access institutional sources of finance for their basic requirements.