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Infrastructure | HOUSING

Reduce interest rates on mortgages

Achieved

Source: Jamaica Labour Party Manifesto pg.7 February 18, 2016

Wednesday May 1, 2019 | National Housing Trust

Budget Debate: Reduction in Students' Loan Bureau interest rates

The National Housing Trust (NHT) has improved its contributors’ ability to afford home loans, following an increase in the NHT’s loan ceiling from $5.5 million to $6.5 million. In addition, the NHT has reduced interest rates for all mortgagors and has made adjustments in the income bands to which interest rates are applied. The changes became effective on May 1, 2019, retroactive to April 1, 2019.

These and other adjustments to the NHT’s loan policy were announced by Prime Minister Hon. Andrew Holness in his contribution to the National Budget Debate on Tuesday, March 19, 2019.