NHT clears air on loan limits
published: Monday | May 19, 2003
THE EDITOR, Sir:
ALLOW ME an opportunity to clear up a misunderstanding that was expressed by Ms. Maureen Whittaker in a letter published in your newspaper on Monday May 5, 2003.
In response to Ms. Whittaker's claims about the NHT's loan limits, let me state from the outset that the NHT's new maximum loan limit is now $1 million. This amount is available to single applicants as well as to contributors who want to pool funds with a second qualified contributor. Together, they can both borrow a total of $2 million subject to affordability. No more than two persons can co-apply.
I must also point out that the NHT's Home Improvement Loan has been increased by 100 per cent. The new loan amount is now $400,000. This particular loan type is in fact designed for contributors like Ms. Whittaker who are home owners but who have never benefited from the Trust. However, contrary to Ms. Whittaker's claims, persons who have accessed an NHT benefit once before cannot access a second benefit be it a home improvement loan or otherwise.
Finally, let me use this opportunity to urge Ms. Whittaker and other NHT contributors who are unclear about the Trust's policies to contact any of our offices islandwide and get up-to-date and credible information.
