Come July 1 when the new policy announced by Prime Minister Andrew Holness takes effect at the National Housing Trust (NHT), scores of contributors who own land are expected to converge on the housing entity to engage the Trust as they seek to access loans to build houses, while others will make single or joint applications to purchase houses on the open market.
The Gleaner has sought additional information from the NHT, particularly in relation to how the new policy will benefit low-income earners.
A 25-year-old minimum wage earner who approaches the NHT on July 1 for a loan could access up to $4 million, including a home grant. This means that this low-income earner would have a monthly mortgage payment of $8,808.58.
At the same time, a 45-year-old minimum wage earner could borrow $2.2 million and access a home grant of $1.5 million, bringing the total sum available from the Trust to $3.7 million. This middle-aged person would be required to pay a similar monthly mortgage of $8,804.90.
With a weekly income of $12,000, a 25-year-old contributor could access $4.5 million from the NHT and pay a monthly mortgage of $12,271.03. Another contributor in a similar age group who earns the same amount weekly and who wishes to purchase a house in a new housing development or who plans to build a house, can get up to $5.5 million from the Trust. This person's monthly mortgage would be $14,997.41.
However, a 45-year-old contributor earning $12,000 per week could borrow up to $4.25 million as of July 1 and end up paying a monthly mortgage of $ 17,009.36.
THE Independent Commission of Investigations (INDECOM) yesterday arrested and charged two members of the Jamaica Constabulary Force from the Area One Headquarters in Montego Bay, St James, for the alleged shooting injury of a woman in Mount Salem on January 22.
Senior Superintendent of Police Anthony Castelle and District Constable Rohan McIntosh were both charged with unlawful wounding, unlawful discharge of firearm, and misconduct in a public office.
The two policemen appeared before Judge of the St. James Parish Court Sandria Wong-Small, where they were granted bail.
Alkaline is the latest dancehall artiste who has had his visa revoked. He joins fellow deejays who has had their visas revoked Beenie Man, Mavado and Bounty Killer.
It is reported that the move was made by the US immigration after he released a politically motivated track titled Save Yourself in which he addressed Jamaica and Caribbean nations, saying “You can’t change my pride,you can’t take my power.”
Alkaline has since dismissed the act as a joke; however the United States Embassy in Kingston did not share his humour as his visa was subsequently revoked on May 13.
Republic Records says Drake’s Views sold 1.2 million copies worldwide in under six days. Republic also claims the album was streamed over 250 million times on Apple Music in the same time period. Over 200 million of those streams came from inside the United States.
Physical copies of Views will be available starting tomorrow (May 6) as well as digital downloads from retailers like iTunes. Streaming rights for the album will stay with Apple Music for another week; on May 13, Spotify and other streaming competitors will receive Views.
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