The People’s National Party, PNP, is promising to create a Rent-to-Own programme for prospective homeowners.
It forms part of the party’s manifesto which was officially launched today.
The PNP’s promising one-hundred and thirty thousand housing solutions over the next five years.
The PNP says in its Rent-to-Own programme, individuals pay rent for a consistent period of time, a portion of which goes towards the deposit on the home.
This then transitions to ownership through a mortgage.
The PNP says Jamaicans seeking to own their first home may be able to claim up to 1-year’s income tax for the purpose of purchasing a home.
The party says under the Rent-To-Own Programme, 25-thousand units will be prioritized for persons under 35 years old, two-thousand for soldiers and 5-thousand for teachers.
It says hospitality workers, teachers, nurses, transport workers, helpers, gardeners security guards, public sector workers and police will receive 5 thousand units each.
Fifty-four thousand lots will be prioritized for the general public.
The PNP is also promising to work with mortgage lenders to offer a 2-year hard times payment moratorium to give Jamaicans falling on hard times a buffer to recover and save their homes.
The manifesto says a PNP administration will work with the UTECH School of Architecture to establish a bank of architectural designs pre-approved by municipal corporations. These will be made available to the public with only land appropriateness checks needed to be done.
The People’s National Party says it’s also committed to transforming informal communities.
It says 30-thousand titles will be fast tracked per year to enable ownership of Farm Lands and Housing Lots, with low-cost mortgages.
The Manifesto says this is a priority project for which 6-point-5 billion dollars over 5 years will be allocated for the legal transition of titles to new owners.
JLP Reacts to PNP Manifesto
In the meantime, Cabinet Minister in charge of Housing, Daryl Vaz, says he’s confident the Jamaican people will not be fooled by the Opposition PNP’s promise to build 1-hundred-and-30 thousand houses should they be returned to office.
Minister Vaz says it must be noted that the former PNP administration failed to build more than 5-thousand houses during its 22-years in office.
But, he says the JLP has been able to build 22-thousand houses in 4-years.
He urged the electorate not to be fooled by what he suggested are hollow promises being made by the PNP.
Mr. Vaz says he’s confident the Andrew Holness factor will augur well for many of the party’s candidates in the September 3 General Elections.
Daryl Vaz, Cabinet Minister in charge of Housing and JLP Candidate for West Portland