Displaying 61 - 72 of 105
No. You are required to send a new letter/bid with the correct information.
Your bid will be rejected if: you do not state your name, and did not sign the letter (if your bid was typed); you do not state the exact address of the property you wish to purchase; you state a range of figures ( e.g $1m to $ 2m) for your bid sum instead of one amount; the property is not on the list of properties which the Trust is selling by Private Treaty; words and figures in your bid letter do not agree; Real Estate Agents who are making bids on behalf of bidders, do not attach a signed copy of the bid from the bidders; when the bid/letter is opened, the information does not clearly indicate that a bid is being made on a property. a higher bid is received from another person. your proof of deposit and mortgage financing documents did not accompany your bid letter; a certified Power of Attorney document giving authorisation for your Agent/Representative to make a bid on your behalf is not received.
If the bid is considered to be acceptable, and the Private Treaty Committee has approved sale of the property to a successful bidder, the successful bidder will receive a telephone call to firstly indicate the success of his/her bid, and advised that the letter of approval and other offer conditions should be collected from the NHT's office within two (2) working days of receipt of the approval. The unsuccessful bidder will be sent a letter, by mail, advising of the status of his/her bid, within five (5) working days of receipt of approval. The bidder whose bid was disqualified will be sent a letter, by mail, advising of the status of his/her bid, within the same time-line. N.B. If a sale is not approved, the NHT will continue to invite interested persons to make offers to purchase the property. We would appreciate if this request is given urgent attention, in keeping with a recommendation made by our internal auditors.
Bids are opened twice per month, usually on the second and fourth Thursday of each month.
We reserve the right to withdraw the offer of sale of a property to a successful bidder if:- the defaulting mortgagor makes acceptable arrangements to settle the outstanding payments on his/her account, before the successful bidder pays the required deposit; the successful bidder fails to provide required documents within the established time-lines, or the information and contents provided in the documents presented do not meet established standards. the successful bidder is unable to satisfy payment of all costs to complete the sale; N.B. We will allow any bidder to re-bid on the same, as well as any other property, if the property is subsequently re-listed for sale by Private Treaty.
Under the Credit Reporting Act of 2010, a credit bureau can collect the following types of information on consumers: Information about the consumers’ financial means The amount and type of loans and advances or other credit facilities granted to a consumer The type of security taken from any consumer in respect of credit facilities (including lease financing and/or hire purchase) The nature of any guarantee or other non-fund based facility accessed by a consumer History of financial transactions involving the borrower Analysis of the above information to arrive at conclusions about the consumer’s credit worthiness. This may be in the form of numerical or alphabetical scores.
A credit bureau is an agency that collects information on a borrower’s credit history, and provides that information, for a fee, to the borrower and/or prospective lenders. Information acquired from a credit bureau allows a lender to better assess the credit worthiness of a borrower. The Credit Reporting Act 2010 provides for the licencing and operations of credit bureaus in Jamaica.
As of August 2017, the National Housing Trust will request credit reports from certain licensed bureaus. Shortly thereafter, the NHT will also begin to share mortgagors’ loan information with those credit bureaus.
The NHT may offer a successful applicant, with or without a co-applicant, a short-term Lease, not exceeding three (3) years. The Lessee has the option to purchase the Unit at its original selling price, at anytime during the Lease period. If you would like to know how the NHT can help you in owning one of these units, then contact us
This facility is available to a contributor, whose income cannot afford the full purchase price of a scheme unit. Under this arrangement, the NHT will defer payment of up to 40% of the cost of the unit.
This facility is available to a contributor, whose income cannot afford the full purchase price of a scheme unit. Under this arrangement, the NHT will defer payment of up to 40% of the cost of the unit.
Yes, the NHT is authorised to share this information under Section 8 (2) (k) of the Credit Reporting Act, 2010 (“The Act”).
