One of the leading providers of low to middle income housing in the Island, Gore Developments, is welcoming the move by Prime Minister Andrew Holness to increase the housing benefits provided to NHT contributors.
On Tuesday, Prime Minister Holness disclosed a raft of increased housing benefits in the House of Representatives.
Chief among the benefits announced by Prime Minister Holness is an increase in the income band that has access to NHT loans at a rate of zero-percent from $7,500 per week to $12,000 per week.
Holness declared that the time for low income earners to invest in houses is now.
Sales and Marketing Manager for Gore Developments, Joanne Padgett, says the move is a step in the right direction.
She says the announcements by Prime Minister Holness are consistent with Gore’s housing price plan.
Miss Padgett says she’s excited about possibilities that will now be open to Jamaicans in terms of home ownership.
AND two former Chairmen of the National Housing Trust, NHT, are welcoming the new housing initiatives.
Mr. Howard Mitchell and Easton Douglas say they applaud the stimulus measures.
However, the former Chairmen of the country’s premier housing agency are recommending that the Government cease the annual 11-billion dollar draw-down from the NHT which was approved a few years ago by the former PNP-administration for budgetary support.
Howard Mitchell is welcoming the new measures announced by Prime Minister Holness.
However, Mr. Mitchell says he hopes the NHT has a plan in place to address the issue of some low income income earners who may fail to make timely payments on their mortgage.
Mr. Mitchell chaired the NHT for 4-years.
He’s urging Prime Minister Holness to protect the funds of the NHT.
He says the government should lobby its debtors for a hair-cut on monies owed instead of removing funds from the NHT to fund next year’s budget.
Easton Douglas, who chaired the NHT from 2012 up until last year, agrees with Mr. Mitchell.
He says the Government will be unable to execute its new housing plans should more funds be taken from the NHT to support the national budget.
Mr. Douglas says the Holness-administration should consider engaging Food for the Poor in order to provide housing solutions to low-income earners.