Contributors to the state-owned National Housing Trust (NHT) who are deemed vulnerable, and who sustained damage to their homes from Hurricane Beryl, are to benefit form a special home grant to effect repairs.
“This grant will be available, subject to need and level of impact. Both contributors and mortgagors may apply,” said Prime Minister Andrew Holness as he addressed the House of Representatives on Tuesday.
The prime minister also announced that NHT mortgagors who have been affected by the hurricane and may need to prioritise urgent repairs to their property, may apply for a moratorium on their mortgage of three to six months.
“This arrangement may facilitate some reprieve for persons recovering from the impact of the storm, especially as they prepare for back to school,” Holness said.
He explained that it is a special moratorium arrangement for mortgagors impacted by the storm and an application must be made.
“NHT continues to facilitate general applications for moratoriums for persons impacted by loss of income and other special circumstances,” the prime minister stated.
Additionally, the NHT will facilitate a special home improvement loan for existing mortgagors to assist in necessary repairs and home improvements to improve disaster resilience.
“This is a special facility aimed at supporting mortgagors who may need to supplement insurance arrangements in order to adequately complete repairs. This facility is also intended to support NHT contributors, including those who do not currently have a mortgage, but may have suffered property damage due to the hurricane,” Holness outlined.
He also noted that all NHT mortgagors are covered under the NHT’s blanket House Owners Comprehensive Policy, which includes coverage for damage caused by (not limited to) fire, hurricane, windstorm, storm, tempest, cyclone, tornado, hail, full flood, impact damage (however caused), bursting of pipes, and the overflowing of water tanks etc.
He said the Trust has already received a number of inquiries and claims in the wake of Hurricane Beryl. To this end, it has mobilised its branches to anticipate and process the claims to be submitted by mortgagors in the coming days.
And, the prime minister said the NHT is contributing significant sums to the national restoration effort.
“In addition to these specific measures for contributors, the NHT is committed to supporting national initiatives to respond to those impacted by Hurricane Beryl. In that regard, the NHT will provide J$200 million for the national restoration effort,” said the prime minister.
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