NHT to offer reduced mortgage interest rates for some public servants effective July 1

Prime Minister Dr Andrew Holness says effective July 1 the National Housing Trust, (NHT) will offer reduced mortgage interest rates for eligible teachers, nurses, firefighters, and member of the security forces.

He made the announcement during his budget debate presentation in parliament yesterday.

According to Dr Holness, for NHT beneficiaries with five to ten years of service, interest rates will be cut by 1-percent, while those with ten years or more will see a reduction of 2 percent.

He also stated that the trust will also reserve more homes for buyers under 35, and cut the home improvement loan waiting period from seven to five years.

Dr. Holness added that the home improvement loan waiting period will also be shortened to five years.