NHT rolls out July 1 loan changes to widen homeownership access

The National Housing Trust has started a series of changes from July 1 meant to make buying a home more reachable for contributors.

Among the updates is a Young Adult Deposit Loan worth up to $2 million for contributors between 18 and 35 years old. The share of housing units set aside for that age group has also moved from 10 per cent to 20 per cent. Public-sector workers are to get lower interest rates in selected developments, while eligible homeowners can now seek a second NHT loan after five years instead of waiting seven. The agency said the revised measures came out of contributor feedback and are part of its drive to make housing more affordable, with a stronger Hurricane Resilience Loan also available for home improvements and safety works.