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No Title For Your Property? You Could Still Qualify For An NHT Loan

Sun, Oct 31, 2010

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If you don’t have a registered title for your property, it’s still possible to get a National Housing Trust (NHT) loan to build your own loan. Very recently, the NHT have been working closely with the Land Administration & Management Programme (LAMP) – a programme designed to assist Jamaicans to obtain registered titles for their land – so that more Jamaicans, who don’t currently have a registered title for their property, can still apply for an NHT loan to build their house.

LAMP, which started as a pilot project in St. Catherine, has now been extended to St. Elizabeth, Clarendon, St. Thomas, Manchester and all of St. Catherine (except Portmore). Up to October 2010, some 3000 Jamaicans have received their registered titles through LAMP.

How does LAMP work in conjunction with the NHT? Persons who have applied for their registered titles, but have not yet received it or have not yet applied for one, can apply to the NHT for a loan to cover the costs of doing so. After NHT and LAMP have helped them to obtain a registered title, the NHT will also lend them money to build on the land. Naturally, an applicant would need to satisfy all the standard requirements for getting a National Housing Trust loan. Because of the collaboration between the NHT and LAMP, there is a very helpful reduction in the length of time between an applicant applying for a title and getting an NHT loan.

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