NHT Mortgagers Urged to Take Advantage Of 10 Plus Loan

The National Housing Trust (NHT) is encouraging mortgagers to take advantage of its 10 Plus Loan programme, through which they can access home improvement loans of up to $3.5 million after 10 years.

Assistant General Manager of Corporate Communications and Public Affairs, Dwayne Berbick, said the facility is designated for home expansions, bathroom renovations, roof repairs and various other improvement projects.

“After 10 years, you can return to the NHT for a second loan and you get up to $3.5 million. Like all NHT loans, this is made available to contributors or in this case mortgagors, based on their affordability,” he pointed out.

Mr. Berbick noted that the interest rate for the 10 Plus Loan varies according to the borrower’s income, ranging from zero per cent to a maximum of five per cent.

Additionally, the repayment period is flexible, lasting up to 20 years or until the borrower reaches age 70, whichever comes first.

Mr. Berbick is encouraging homeowners to apply as soon as they qualify to take advantage of the repayment terms, which can result in smaller, more manageable monthly payments.

The NHT’s 10 Plus loan facility presents a valuable opportunity for homeowners to invest in their properties while ensuring financial stability.

Interested individuals are encouraged to reach out to the NHT for further information and guidance on the application process.