JAM | Sep 14, 2023

JN Bank now a NHT external financing partner

/ Our Today

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JN Bank Managing Director Leesa Kow

JN Bank has partnered with the National Housing Trust (NHT), under the External Financing Mortgage Programme (EFMP), to continue assisting qualified contributors with financing property acquisitions.

The EFMP replaces the NHT’s former Joint Financing Mortgage Programme, but, similarly, it will allow NHT contributors to conveniently mix their benefits with mortgage funds from JN Bank to come up with the sum to purchase property. Contributors will receive funds at the same interest rates and terms as 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 process loan payments on behalf of the NHT.

In welcoming the new agreement with the NHT, Leesa Kow, JN Bank managing director, said: “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.

The New Kingston headquarters of the National Housing Trust (NHT).

JN Bank remains a leading private mortgage lender, offering a range of mortgage products at
competitive interest rates, along with other benefits, including life and home insurance.

Kow said JN 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.

JN Bank signed the agreement with the NHT recently, following months of negotiations.


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