NHT Encourages Contributors to Take Advantage of Newly Implemented Housing Benefits

National Housing Trust (NHT) contributors are being encouraged to take full advantage of newly implemented policy changes – rolled out two weeks ahead of schedule – to better address the shelter needs of Jamaicans.

These include a reduction in service charges, increased loan limits for single and co-applicants, and enhancements to the Smart Energy Loan facility.

NHT Assistant General Manager for Corporate Communications and Public Affairs, Dwayne Berbick, noted that the policy changes are evidence-based responses to the economic realities and evolving needs of contributors.

“These aren’t arbitrary decisions. The loan limit increases, particularly for construction, are grounded in research. We have the data on where affordability lies for our contributors across Jamaica, and that data informed our decisions,” he said while addressing a Jamaica Information Service (JIS) ‘Think Tank’ on Tuesday (June 24).

The latest policies cater to a broad spectrum of contributors, including prospective homeowners, home improvers, builders, and buyers.

The Assistant General Manager explained that the early implementation was driven by a combination of factors, including institutional preparedness, contributor feedback, and shifts in the housing market landscape.

“Every year, we observe that some prospective mortgagors delay transactions, waiting for the new loan limits to take effect. This can lead to delays, extra costs, and complications with sale agreements. So, this year, with the support of our IT (information technology) and administrative teams, we were able to act sooner,” he said.

“Our teams’ readiness, supported by technology, enabled us to issue updated eligibility letters and loan limits to contributors sooner. It also gave us a chance to test how early implementation affects service delivery,” Mr. Berbick added.

He emphasised that this reflects the Trust’s commitment to being a responsive, research-driven institution that prioritises the housing needs of Jamaicans in its strategic planning.

For more information about the NHT’s updated loan offerings and policies, contributors may visit www.nht.gov.jm or contact the Customer Service Centre at (876) 929-6500.