Kingston, Jamaica( McKoy’s News) – NHT Loan Limits Increase: More benefits are available for persons seeking to acquire a house through the National Housing Trust, NHT, as the loan limits have again been increased.
Prime Minister Andrew Holness has announced policy changes which will increase the number of money persons will be able to access for Open Market.
Effective yesterday, persons can borrow up to $5.5 million each for open market loans on any house. This was previously available to only persons who were constructing or who were buying into new developments, whose Practical Completion Certificate was dated September 1, 2015, and after.
In addition, the loan limit for the 15 plus category has been increased from $1.5 to $2.5 million. This means persons owning houses for more than 15 years can access up to $2.5 million for repairs or expansion.
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