The National Housing Trust (NHT) announces more creative ways to homeownership, is working to deliver more housing solutions across the island, and is improving its Contributions Refund process come January 2011.
On Friday, November 12, 2010, Prime Minister, the Hon. Bruce Golding announced a number of policy initiatives to make home ownership a reality for younger contributors and to provide low cost financing for owners of unregistered land.
Prime Minister, the Hon. Bruce Golding (centre) announced the new initiatives at the Unions Estate Handover Ceremony on November 12. The PM toured the scheme after the ceremony, and was accompanied by (from l-r) the NHT’s Chairman, Howard Mitchell; the NHT’s Managing Director, A. Cecile Watson; Member of Parliament for Central St. Catherine, Olivia Grange; and NHT Senior General Manager, Construction & Development, Donald Moore.
The PM’s announcement was made during the formal handover of keys to beneficiaries at the Unions Estate Development. The policy changes are the second this year, as the NHT seeks creative ways to address the demand for affordable housing. Among the changes are:
• Parent Assist, a facility whereby parents can assist their children to acquire homes
• NHT/LAMPII Land Titling Programme, loans to facilitate land registration
• The use of NHT contributions to finance the deposit on a home purchase.
PARENT ASSIST: NHT provides for the next generation
Effective January 1, 2011 parents who already own a home can borrow up to the maximum NHT loan of $4.5 million, to help their children acquire a house of their own. Furthermore, parents over age 65, who have never received an NHT loan, will no longer have to leave their points behind once they cease contributing to the Trust. They will be able to grant those points to their children who can then use them to improve their chances of being selected for a Scheme benefit.
These NHT policies which will benefit younger contributors are captured under a new facility called “Parent Assist”.
NHT/LAMPII Land Titling Programme
In order to assist landowners in the parishes of Manchester, Clarendon and St. Elizabeth to obtain registered titles for their land at reduced costs, the NHT will collaborate with other entities to provide loan financing to eligible NHT contributors. Implementation will take place from January 17, 2011.Land Administration Management Programme (LAMP) II is the second phase of a land titling programme spearheaded by the Government of Jamaica. The programme is being implemented in collaboration with Geoland Title Limited (a private sector firm) and Korea Cadastral Survey.
NHT Contributions as deposit
Effective January 2011, NHT contributors may apply for a loan against their contributions, as a means of financing the deposit on a residential property. This NHT mortgage loan will fund purchase deposits on NHT scheme units as well as Open Market properties.
Upcoming NHT Schemes
The NHT is working to deliver and/or start construction on a number of housing solutions across the island. The construction of some schemes began in 2009 and more construction will follow in 2010 and 2011. The schemes include starter and studio units, 1, 2 and 3 bedroom apartments as well as townhouses.
Now being offered on the market
The Trust recently published the names of persons short-listed to be interviewed for loans to buy one and two-bedroom houses and studio units at Bushy Park Phase 2, Clarendon. These persons were selected based on applications received by the Trust between Monday, October 4 and Friday, October 8, 2010. Also, applications are being invited for four (4) three-bedroom townhouses at Paddington Glades, a gated community located approximately 1Km west of the junction of Paddington Terrace and Croydon Avenue.
For information on the NHT’s selection criteria visit our website: www.nht.gov.jm.
Home Grant Programme
The NHT invited applications for the Home Grant Programme between Monday, November 22, 2010, and Tuesday November 23, 2010.The Home Grant is a special offer of up to $1.2 million, to NHT contributors now earning $4,070 - $10,000.99 per week, and who do not yet own a home. The Grant must be combined with an NHT loan to build or to buy a house. The combined funds should not amount to more than $3.6 million.
Is your name on the missing data list?
Find out now if your 2003 records are incomplete as next year the NHT will be refunding contributions for 2003. The Trust has posted on its website, the names of contributors whose employment records for 2003 have missing information. Contributors can check if they are among those with missing information by visiting the NHT website at www.nht.gov.jm/refunds-advisory. If a contributor’s name appears on this list, he/she should make a note of the documents required and take them to the NHT.
These documents may include: NIS card, TRN card, a valid ID, proof of employment during 2003 and marriage certificate or deed poll if his/her name has been changed since 2003. The NHT is encouraging contributors to ensure that all relevant data is up to date prior to applying for their refunds. This will assist the Trust to give these contributors their refund come January 2011.
Call Centre now offering LIVE HELP via the NHT Website
The NHT now offers a Live Help Support system which takes the format of a web chat with its team of Customer Care agents. Live support can be accessed via the NHT corporate website during office opening hours by users locally as well as those overseas.
For more information about this and other NHT activities and programmes, visit our website at www.nht.gov.jm