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Infrastructure | HOUSING

Introduce 50-60 year intergenerational mortgages

Achieved

Source: Jamaica Labour Party Manifesto pg.7, 24 February 18, 2016

Friday December 6, 2019 | National Housing Trust

New Homeowners benefit from the NHT’s Intergenerational Mortgage programme

December 4, 2019, marked a new era in the lives of 52 residents of Westmoreland and their families, who were recipients of National Housing Trust, NHT housing solutions in the new Darliston Grove and Shrewsbury communities.

These new homeowners were the first to benefit under the National Housing Trust’s Intergenerational Mortgage programme which was announced by the Prime Minister in March of this year.

In delivering the keynote address, the Prime Minister highlighted that these solutions were a testament to the Government’s resolve and unending commitment to deliver 23,000 housing starts under the NHT’s four-year housing programme up to 2021. He highlighted that the NHT had superseded its initial target of delivering 14,000 housing starts for the period 2016-2019, thereby increasing the inventory by 152% and completions totalling 6,400 solutions over the same period.

Wednesday March 20, 2019 | Jamaica Information Service

NHT to Introduce Intergenerational Mortgage

Prime Minister, the Most Hon. Andrew Holness, says the National Housing Trust (NHT) will be introducing an intergenerational mortgage programme in the upcoming fiscal year.

This initiative, he said, will allow flexibility in how a family member can support a beneficiary in acquiring an NHT property.

“The aim is for a younger sibling or child to agree to carry the mortgage obligation, subject to affordability, when the older mortgagor retires or dies,” Mr. Holness said