With homeownership a major issue among the country’s educators, Petal James, Group Sales Executive, JN Group, says her organisation, is prepared to support the nation’s teachers to achieve their goal.
Speaking at The Jamaica Teachers’ Association 58th Annual Conference recently, Ms James said that her organisation, the largest private mortgagee and market leader, understands the difficulty many teachers face in owning homes, which can make fulfilling their roles as educators an even more challenging task.
“As teachers, you should feel that you can, over time, acquire assets, such as a home and not be compelled to leave your jobs in order to achieve these basic financial goals,” she said. “In this vein, JN Bank’s Own Sweet Home Mortgage offer makes financing the home acquisition process easier, as it allows for the financing of the deposit, legal fees, surveyor and valuation fees, and closing costs.”
Ms James said that JN Bank will not only provide up to 100 per cent of the mortgage financing to persons who have been with the organisation for more than five years to cover the purchase of the property, but an additional unsecured financing amount of up to $5 million to assist with covering mortgage-related expenses is available. She pointed out that if all the required documents are submitted on time, the mortgage could be disbursed in 30 days or less, providing that the vendor’s attorney and the registration of the mortgage process through National Land Agency play their role equally.
“Ladies and gentlemen, when we speak about ‘revisiting the foundation,’ I believe the home, the most primary of institutions in our society, is critical in shaping the development of our students and creating a level playing field for them to experience an equal chance at learning and developing. Home ownership is not merely about acquiring an asset for wealth creation,” she declared, “it’s an opportunity to mould and shape the values one wants for the nation.”
Ms James said that it is important that teachers feel positive that they can comfortably care for their own families, while edifying and nurturing the nation’s children.
There are continued challenges, Ms James explained, that many Jamaicans face with purchasing property, despite the reduced mortgage rates over the years, and reduction in, or even removal, of some government fees.
“We are mindful that you will still need to prepare for the process, so that you can qualify for a mortgage. And the first step to getting qualified, is getting into good financial shape, by increasing your net worth and reducing your debt,” she advised, highlighting a variety of credit products and financial services and information that the JN Group can provide to support persons to improve their financial standing.
The three-day JTA Conference which ended on August 24, was held at the Hilton Rose Hall Resort & Spa in St James.