In implementing its mission we will grant loans to qualified contributors to purchase a parcel of land, in instances where more than two persons have interest in a single parcel of land and it is large enough to be subdivided.
Cluster Housing refers to a division of a lot of land into more than two lots, on which detached dwelling units are grouped relatively close together, leaving open spaces as common areas.
The House Lot Loan is a Non-Homeowners’ Loan. If you have previously received a loan from the NHT or are already the owner of a home you will not be eligible for the Cluster Housing Loan.
Where more than two persons have identified a suitable parcel of land that has been brought under the Registration of Titles Act and is large enough to be sub-divided into not more than nine (9) lots, we will provide a loan up to an amount that does not exceed the total sum of the individual House Lot Loans. For example if three (3) persons qualified for House Lot Loans of $1 Millon each, then the maximum Cluster Housing Loan that could be applied for would be $3 Million. The Loan can be used to facilitate the acquisition and sub-division of the property, installation of infrastructure and splintering of Titles.
You must be aware of and meet the following conditions:
- The Parish Council must indicate that it has no connections to the land being subdivided.
- An Agreement must be signed by all purchasers indicating their understanding of the terms and conditions governing the Cluster Housing.
- Applicants must meet the usual eligibility and affordability criteria.
- Applciants should provide proof of technical expertise to oversee the development
- A Certified Quantity Surveyor must provide an estimate of infrastructure cost.
- NHT will finance the infrastructure cost not exceeding thirty percent (30%) of the House Lot Loan maximum limit.
- The development is subject to approval by our Technical Committee.
- Applicants must provide proof of balance to complete infrastructure work.
- We require a Letter of Undertaking from the purchasers' Attorney indicating that he/she has applied or will apply for Splintered Titles and will forward same to the NHT as soon as they become available.
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