NHLDC offers new mortgage programme to would-be homeowners

NIA CHARLESTOWN NEVIS (December 14, 2016) — Persons on Nevis who wish to own a home, with assistance from the Nevis Housing and Land Development Corporation (NHLDC), are invited to visit the corporation for information on its latest mortgage programme.

Minister responsible for Lands and Housing on Nevis Hon. Alexis Jeffers, who is also serving as the corporation’s Chairman of the Board of Directors, extended the invitation at a recent sitting of the Nevis Island Assembly.

Mr. Jeffers noted that the corporation approached the St. Christopher and Nevis Social Security Board for a $10 million mortgage programme for housing.

Under the new housing programme, the corporation would construct homes for persons who qualify under an arrangement forged with the Nevis Co-operative Credit Union to facilitate loans.

“We are asking for a down payment of $5,000 to $10,000 and then an interest rate of 5 percent over a 300-month period, that is 25 years,” he said.

The Minister said he was pleased that the Corporation was once again able to provide opportunities in housing.

“I am happy about that because things have been difficult. It has been difficult for us to raise financing at the corporation to assist persons as we would like to… This is going to go a long way in dealing with some of the difficulties that we’ve had over the last couple of years.

“I want to thank …the Minister responsible for Social Security in the Federal Parliament [Hon. Vance Amory], for his assistance in making this happen,” he said.

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