NHT Reminds Contributors of CRTD Refund Facility for Homeownership

The National Housing Trust (NHT) is reminding contributors pursuing homeownership that they may access refunds not yet due through the Contributions Refunds Towards Deposit (CRTD) loan facility, to support their goal.

Assistant General Manager for Corporate Communications and Public Affairs, Dwayne Berbick, says the instrument allows eligible contributors to access refunds up to six years in advance.

He noted that the funds may be applied to a wide range of housing‑related expenses associated with purchasing or building a home.

“These contributions can be used to assist with making a deposit on a property that you’re buying, legal fees, survey and ID reports, valuation reports, and closing costs. In the case of construction, if there are property taxes owed, they can be used to clear those as well. Generally, it supports a wide cross-section of housing-related expenses for the prospective owner,” he told JIS News.

Mr. Berbick explained that once contributors access these funds early, they will not be able to claim refunds for those same years when they subsequently become due.

To access these funds, contributors must submit the requisite documents specific to the intended purpose, along with general requirements such as a National Insurance Scheme (NIS) card, Taxpayer Registration Number (TRN) card or driver’s licence with TRN, a letter from their employer, and the last three pay slips.

Self‑employed persons may instead provide a Certificate of Contributions from the NHT’s Compliance Department, together with proof of identity and age.

The Assistant General Manager is encouraging interested individuals to consult the CRTD checklist on the Trust’s website when making applications.

He further clarified that while the CRTD is commonly referred to as a loan, it does not operate like a traditional loan facility.

“It isn’t a loan with an interest rate and payment terms, like usual. It’s considered a loan because it’s not yet your money. The NHT should have still been holding on to it. But because of the need you have in purchasing or building a house, we’re making it available to you ahead of time,” Mr. Berbick said.

He added that the facility effectively repays itself once the relevant contribution years become eligible for refund.