The National Housing Trust (NHT) plans to implement strategic changes to improve loan processing and mortgage financing access for contributors in fiscal year 2024/25.

Details of this and other programmed engagements are outlined in the Jamaica Public Bodies ‘Estimates of Revenue and Expenditure’ for the year ending March 2025.

The NHT plans to process 8,955 mortgage loans and build a branch office in Clarendon, improving service delivery and delivering 6,657 housing solutions from 2020 to 2023.

Implementing the External Financing Mortgage Programme in 2023/24 should enable the NHT to direct more funding towards housing construction in 2024/25. There is a plan in place to construct 15,009 new housing solutions and deliver 3,664, comprising houses and residential lots.

Solutions for 2024/25 delivery will be constructed through various NHT programmes, including 987 NHT projects, 50 labour and small contractors, interim financed, joint venture projects, Guaranteed Purchase Programme, Community Renewal Programme, and individual loans.

The NHT plans to spend J$46.58 billion on housing solutions and enhance its contribution portfolio management in 2024/25. The NHT plans to enhance technology and marketing, implement a loan solution by June 2024, and increase contribution collections by 8.5 per cent to J$61.68 billion, while also renovating police stations near housing schemes.

Additionally, the trust will pursue infrastructure upgrading of some of its older schemes for J$645 million.

The NHT anticipates an operating surplus of J$18.66 billion over the period and a projected staff complement of 1,291.

The low-cost housing solutions provider aims to enhance Jamaica’s housing supply by providing mortgages to individuals for home construction or purchase from the National Housing Authority (NHA) or the broader market.