Interest-free NHT mortgages for some Shrewsbury beneficiaries
Published:Sunday | October 29, 2023 | 10:36 AMAlbert Ferguson/Gleaner Writer
WESTERN BUREAU:
Last week, 32 National Housing Trust (NHT) contributors were handed the keys to their new homes in the Shrewsbury Housing Development in Petersfield, Westmoreland.
In doing the handover to 25 of the 32 beneficiaries, Prime Minister Andrew Holness expressed delight that the beneficiaries were finally able to realise their dreams of becoming homeowners, while also revealing that more than half of them would pay no interest on their mortgages.
“Of the 32 contributors selected, the gender is almost equal. In addition, the highest number of selectees – 52 per cent – earn between the minimum wage and $30,000 weekly. What this means is that these selectees will access their mortgages at, believe it or not, zero per cent,” Holness said.
The Shrewsbury Housing Development project was completed as part of NHT’s Labour and Small Materials Programme (LSMP).
“This is how the NHT is helping, and, of note, 72 per cent of the selectees are within the age group of 41-60 [years old]. Further, 36 per cent of the selectees worked in accounting, administration, and the clerical field, and 24 per cent are in skilled services areas,” the prime minister stated.
He also noted that 20 per cent of the beneficiaries worked in the housing and services sector as cooks, gardeners, bartenders, and stewards.
“Twenty-five eligible contributors were selected, and seven solutions were reserved for public-sector workers and persons with disabilities,” the prime minister informed, noting that since the inception of the NHT, it has contributed over 3,000 housing solutions through its various programmes in Westmoreland.
“The NHT’s current housing programmes include eight developments. These developments will bring to market a further 4,600 housing solutions in Westmoreland over the next few years,” Holness added.