The government will be increasing the National Housing Trust’s limit by an additional $1 million to stand at $7.5 million effective July 1.

Prime Minister Andrew Holness, made the announcement as part of his budget presentation Thursday afternoon.

However, Mr. Holness says special dispensation will be given to contributors purchasing homes valued at $12 million or less. They’ll be able to access an additional $1 million or $8.5 million total from the NHT.

Two persons applying jointly will also be able to access funding of up to $15 million, up from $13 million.

The NHT will also reintroduce its policy to allow up to three contributors to co-apply for a single NHT Scheme unit of two bedrooms or larger.

However, applicants must prove they are bona fide family members and have.

Three co-applicants will be able to access funding of up to $21 million up from $19.5 million.

Prime Minister Andrew Holness.