This facility allows up to 27 qualified contributors to jointly access loans to buy a single parcel of land that can be subdivided into a minimum of 3 to a maximum of 9 lots, and build their houses on the lots.
Build 9 is best suited to contributors who have identified land for sale but are unable to afford the full purchase price on their own. By joining with other contributors, they will all share the cost to:
- purchase the land
- subdivide the land into individual lots
- install infrastructure such as, water, electricity, and roads
- obtain the splintered titles for each lot.
The NHT will finance the infrastructure cost of the land, provided that:
- the parish council does not object to the subdivision
- applicants meet all the usual loan eligibility criteria (click here to see Who Qualifies for a Loan)
- provide an estimate of infrastructure cost from a qualified quantity surveyor
- provide a letter of undertaking from the purchaser’s attorney indicating that he/she has applied or will apply for splintered titles and will furnish same to the NHT as soon as they become available, and
- the development is approved by the NHT’s Technical Committee.
Interested in Build 9? Contact us to request more information at 876-929-6500-9 or via webchat.