JN Bank has partnered with the National Housing Trust (NHT), under the External Financing Mortgage Programme (EFMP), to continue assisting qualified NHT contributors with financing property acquisitions.
The EFMP replaces NHT’s former Joint Financing Mortgage Programme, but, similar to the former programme, it will allow NHT contributors to conveniently mix their benefits with mortgage funds from JN Bank to come up with the funds to purchase property. Contributors will receive funds at interest rates and terms they would receive if they had borrowed directly from the NHT, alongside funds from JN Bank.
Also, as with the previous programme, JN Bank will process the applications, so that applicants will not need to contact the NHT at any point. JN Bank will also manage disbursement of the funds to successful applicants and loan payments on behalf of the NHT.
In welcoming the new agreement with the NHT, Leesa Kow, JN Bank managing director, said the Bank looks forward to a successful partnership with the Trust under the EFMP that will build on the legacy of the previous programme.
“As the foremost mortgage lending institution in Jamaica’s private market, we are happy for the opportunity to continue this relationship with the Trust that will afford Jamaicans greater flexibility to access funds in their effort to achieve homeownership and raise their families confidently,” she said.
JN Bank remains a leading private mortgage lender, providing a range of mortgage products at competitive interest rates, along with other benefits, including life and home insurance.
Ms Kow said the Bank remains committed to helping people own property and noted that the new agreement will provide a convenient and affordable means for Jamaicans to finance real estate for residential purchases.
Delroy Scarlett, chief of retail sales, JN Bank, said the EFMP also provides an opportunity for contributors to access other products and services to finance the homeownership process.
“As a member of a much larger conglomerate, there are several other financial services and non-financial services that our members can leverage to support their needs during the acquisition process and after the mortgage process. These include personal loans, lines of credit, credit cards, property services, as well as insurance facilities,” he outlined.