JIS News

The National Housing Trust (NHT) has disclosed that since the start of the year, it has awarded 4,628 new loans totalling $8.17 billion.
The figures were released today (September 9), at a press briefing, held at the NHT’s headquarters in New Kingston.
Most of the loans were made in the April to June quarter, the first quarter of the current financial year, during which 3,085 loans valued at $3.91 billion were awarded. New loans created for the April to June quarter were 651 or 27 per cent more than that created for the similar period in 2008, when 2,434 loans were awarded.
The performance over the quarter is also an improvement over the previous quarter in which 1,543 loans were awarded at a value of $4.24 billion.
The NHT is projecting that a total of 7,899 loans at a value of $16.1 billion will be awarded by the end of this fiscal year. This would surpass the performance of the Trust in the last financial year, in which it awarded 6,870 loans at a value of $13.14 billion.
Total contributions collected by the Trust for the April to June quarter amounted to $5.4 billion, broken down at: $2.2 billion in employee contributions; $3.0 billion in employer contributions; $166.2 million in contributions collected from self-employed persons; and $27.1 million in penalties.
Mortgage repayments for the period totalled $2.2 billion, which represented a marginal increase over the $2.1 billion collected for the similar period last year.
The Trust also made $389 million in contribution refunds during the last quarter, compared to $350 million for the similar period last year.

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