Some NHT Contributors to Access Benefits Directly After EMFP Takes Effect

Some National Housing Trust (NHT) contributors will still be able to access benefits directly from the institution, even after the External Mortgage Financing Programme (EMFP) takes full effect in August.

“The NHT will continue to process [loans for] contributors within our zero per cent income band, earning between minimum wage and $30,000 per week. However, where these individuals need additional funding from another institution, as was with the Joint Financing Mortgage Programme (JFMP), those will fall under the (EMFP),” the Assistant General Manager for Corporate Communication and Public Affairs, Dwayne Berbick, has said.

Mr. Berbick was addressing a Jamaica Information Service (JIS) Think Tank on Thursday (June 29), at the agency’s headquarters in Kingston.

He also noted that the NHT will continue to process applications inhouse for persons within the zero per cent income band who are desirous of accessing NHT enablers, such as grants.

Earlier this year, the Trust introduced the EMFP. It will replace the JFMP, giving customers a wider pool of financial institutions to conduct business with, including banks, credit unions, and building societies.

Under this new arrangement contributors will be able to apply for their NHT benefits from the Trust’s financial partners.

Considering this operational change, Mr. Berbick emphasised that the NHT is not turning its backs on contributors.

“We are not saying go process your loan elsewhere. The NHT is… harnessing the efficiencies that exist in the financial and construction markets by having greater partnerships with our developers under our Guaranteed Purchase and Developers Programmes,” he noted.

Mr. Berbick added that this will enable the NHT to provide more housing units in a faster period.