Prime Minister Dr Andrew Holness says effective July 1, teachers, nurses, firefighters, and members of the security and defence forces will benefit from a special reduced interest rate on their National Housing Trust (NHT) mortgage based on their length of service.

Holness, making his contribution to the 2026-2027 Budget Debate in the House of Representatives on Thursday (March 19), explained that for those with five to 10 years of service, the applicable interest rate will be reduced by one per cent, and for those with service of 10 years or more, the rate will be lowered by two per cent. 

During his presentation, the prime minister announced measures to increase affordability and access to homeownership.

For young Jamaicans, he informed that the NHT will reserve a minimum of 20 per cent of scheme units for persons under age 35, doubling the previous allocation of 10 per cent, and will provide an advance of up to J$2 million to assist with deposit requirements for open market purchases.

Also, Holness said that effective July 1, the Home Improvement Loan waiting period will be reduced from seven to five years, giving existing homeowners faster access to funds for maintenance, security, green energy upgrades, and expansion.