National Housing Trust (NHT) contributors who are looking to own a home are being encouraged to use their refund to offset some of the costs associated with the process.
Corporate and Public Affairs Manager, Dwayne Berbick, said persons should consider using the repayment to assist with the deposit, valuation report or legal fees.
“Do not just spend it because it is available. Use it wisely,” he encouraged.
“Your refund is actually a tool to help with the homeownership process when that time comes. Do not consider [your contribution] as [just a] tax,” he added.
Contributions become refundable every eight years.
However, Mr. Berbick explained that “individuals who are purchasing a home today… can actually reach out to us and request to have years not yet due to become available ahead of time. Persons can ask for up to five years of refunds”.
Currently, the Trust is refunding contribution made in 2014 or earlier. Contributors can submit refund applications online up to December 31 using the NHT’s mobile application (app) or via its website at www.nht.gov.jm.
The app is available for download at the App Store and Google Play Store.
The NHT has committed to provide affordable dwellings to citizens year on year. It aims to deliver 42,000 of the 70,000 housing solutions that are being targeted for development by the Government.
