- He made the recommendation during his contribution in the 2014/15 budget debate in the House of Representatives on Tuesday, April 22.
- Mr. Shaw says the present limit of $4.5 million should be lifted to at least $6 million.
- This would give NHT contributors greater access to a wider choice of homes.
Opposition Spokesman on Finance and Planning, Audley Shaw, is recommending that the National Housing Trust (NHT) lift the ceiling on the amount of money loaned to depositors to purchase homes.
He made the recommendation during his contribution in the 2014/15 budget debate in the House of Representatives on Tuesday, April 22.
“The present limit of $4.5 million I believe…should be lifted to at least $6 million which would also make $12 million available for joint purchase mortgages,” Mr. Shaw said.
He noted that this would give NHT contributors greater access to a wider choice of homes.
The NHT will spend $22 billion this financial year, to provide safe, secure, and affordable housing solutions to Jamaicans.
Delivering the Throne Speech in Gordon House on Thursday, April 3, Governor- General, His Excellency the Most Hon. Sir Patrick Allen, informed that the figure is similar to what the Trust spent last year.
He said the NHT will complete over 2,000 more housing solutions, adding that during the last fiscal year, 2,700 housing solutions were completed, and $3.1 billion in refunds paid to 150,000 contributors.
The Governor-General informed that the main areas of expenditure will be: open market loans; build on own land; home improvement loans; and the construction of solutions, particularly under the small contractors programme.