The National Housing Corporation offers the following services:

Rentals

TYPES OF SOLUTIONS OFFERED

1.      Rental units

2.      Rental of lots

3.      Rental of Office Spaces/Properties

INFORMATION / DOCUMENTS REQUIRED

1.      Application Form (must  carry full name)

2.      Job letter/last pay slip

3.      An accompanying job letter from the applicant, signed by his/her employer stating a  willingness  to deduct the weekly/monthly rental charges

4.      Identification Card

5.      One (1) Passport-sized photograph

CRITERIA FOR THE ALLOCATION OF UNITS/LOTS

1.      The income of the applicant(s) must not exceed the salary of Administrative Officer II,  i.e. Z16 –Z8 = $2989.98 - $3778.37

2.      Applicant must not be the owner of a lot/property                             

3.      Applicant is in dire need of housing

4.      Victims of fire, flood, hurricane, other natural disasters and emergency cases

5.      Applicants who are the subject of eviction by landlords or Court Orders adversely affecting the applicant

6.      Applicants with domestic difficulties

7.      Applicants suffering from situations of overcrowding and poor housing conditions

8.     With respect to lots the applicant must agree to erect a house on the lot within six (6) months, failing which the land will revert to the Corporation

9.      Applicants must be citizens and resident of Barbados

10.  Applicants must be over 18 years of age

Sales of Land and Property

TYPES OF SOLUTIONS OFFERED

1.      Sales of Property (house and land together)

2.      Sales of Land

3.      Auctions (when a buyer is in default)

INFORMATION / DOCUMENTS REQUIRED

To Apply:

1.      Application Form (must  carry full name)

2.      ID Number

To Commence Purchase:

2.      Job letter/last pay slip

3.      An accompanying job letter from employer

4.      Identification Card

5.      One (1) Passport-sized photograph

6.      Amount of required deposit.

CRITERIA FOR THE ALLOCATION OF LAND/PROPERTY

1.      The income of the applicant(s) for the H.E.L.P program must not exceed 4500.00

2.      Applicant must not be the owner of a lot/property 

Sales of Terrace Units

The mandate of the Sale of Terrace Units Program is to offer the tenants of the National Housing Corporation an opportunity to purchase their rental unit at an affordable price and to have their dreams of owning a home and a piece of the rock fulfilled.

The NHC ascertains the eligibility of tenants based on the length of time that they have been occupying the unit. *

* Tenants occupying the unit for more than 3 years are eligible to purchase.

* Tenants occupying the units for more than 20 years have to cover legal costs only.

NOTES

If through age or other circumstances the tenant does not qualify for a mortgage from external entities, the NHC can provide funds on a case by case basis.

The tenant can jointly purchase the unit with a partner or relative or that person can act as a guarantor. However the unit  must be purchased in the tenant's name.

If the tenant has arrears, they can be either be paid of before entering into an agreement to purchase, or the arrears can be added to the purchase price.

GENERAL PROCEDURE

1.   The NHC will send the tenant  an offer letter

2.   The tenant should then:

       a)  visit the NHC to discuss the purchase price of the unit

       b)  make and appointment to visit a finance company if there is a need to borrow money

3.   The NHC will provide a letter addressed to the mortgage company indicating that the tenant is qualified, the value of the unit and the purchase price. The tenant should take along this letter, a job letter and recent bank statements to the mortgage company.

4.   The deposit is 10% of the purchase price. Once the deposit is paid the tenant can sign the Agreement to Purchase which is drawn up by the NHC.

5.   The tenant should employ the services of an attorney-a-law to represent their interests.

6. Once the agreement to purchase is signed all rent payments stop. Instead the tenant makes payments to the NHC equivalent to the monthly mortgage payment.

7. When the legal process is complete, the tenant is refunded all of the excess payments that have been made. The tenant may use the money as they wish, but it is generally a good idea to put it towards the mortgage.

THE NHC is committed to fixing all structural defects to the units.  The NHC has pledged that:

a) All asbestos roofs would be changed
b) Parapet or firewalls would be constructed
c) Sewage systems would be upgraded
d) Electrical supply would be upgraded
e) Subdivision surveys would be done
f) All structural defects would be repaired

Loans

The General Workers Housing Loans Fund represents one approach of Government to assist low-income persons to achieve acceptable standards of housing accommodation.

The Fund is subject to the policy guidelines on lending as set out by the National Housing Corporation Act 1973-8 and Regulations and any amendments to the said Act and Regulations.

The operational guidelines and policies are formulated and complemented by the Board of the National Housing Corporation.  The Loans Section of the National Housing Corporation carries out the day-to-day operations of the Fund.

TYPES OF SOLUTIONS OFFERED

1.      Chattel Mortgage

2.      Legal Mortgage

3.      Promissory Note

Loans are offered for:

a) New construction and for the enlargement or repair of existing structures.

b) The removal of a chattel house from the land on which it stands to other land;

c) Discharging of a mortgage.

Documents Required for All Purposes

1.                    Statement of Affairs

2.                    Job Letter stating occupation, length of employment, wages/salary.  (For self-employed persons,
financial statements or income tax assessment for the previous two to three years).

3.                    Last pay slip.

4.                    Passport sized photograph.

Documents Required for Construction/Completion of a House.

1.                    Town and Country Development Planning Office's approval

2.                    Estimate

3.                    Title Deeds (if applicant owns the land)

4.                    Landlord's permission (if a tenant).

            Purchase of a Timber House

1.                   Agreement for sale

2.                    Landlord's permission (if a tenant)

3.                    Town and Country Development Planning Office's approval (if house is to be re-sited).

4.                    Proof of ownership

            Purchase of Land

1.                    Agreement for sale

2.                    Copy of individual lot plan

Note:          Purchase Price cannot exceed $30,000.00

Purchase of Property

1.                    Agreement of sale

2.                   Copy of individual lot plan

House Repairs

1.                    Estimate

2.                    Proof of ownership

3.                    Landlord's permission (if a tenant)

4.                    Title Deeds (if owner of land)

House Repairs  ($5,000.00 Loan)

1.                    Last pay slip

2.                    Estimate

3.                    Affidavit/Proof of Ownership

4.                    Affidavit/Landlord

            Extensions/Alterations of a House

1.                    Title Deeds (if applicant owns land)

2.                    Landlord's permission (if a tenant)

3.                    Proof of ownership

4.                    Estimate

5.                    Town and Country Development Planning Office approval

Resiting

1.                    Title Deeds (if applicant owns land)

2.                    Landlord's permission (if a tenant)

3.                    Proof of ownership

4.                    Estimate

5.                    Town and Country Development Planning Office's approval

Discharging a Mortgage

1.                    Letter from Mortgagee stating purpose of loan, status of repayments, monthly or weekly payments.

LOAN AMOUNTS - Terms and Interest Rates

            The General Workers Housing Loans Fund will provide the financing for 100% of the value of the project.

1.             Loan Amounts

The minimum loan is one thousand dollars ($1,000.00) and the maximum is one hundred thousand dollars ($100,000.00).

2.             Terms

The maximum repayment period is seven (7) years for short-term loans and a maximum of forty (40) years for long-term or up to retirement age.  Borrowers may elect to repay the loans over a shorter period of time than is stipulated in the agreed contract.

3.             Interest Rates

The current interest rate for loans, under the General Workers Housing Loan Fund is 12% for short-term loans, 9% for long-term loans and 6% for first time home-owners.  These rates are subject to change pursuant to amendments of Regulations of the National Housing Corporation Act 1973-8, which establish allowable interest rates.

Transfer of Title to Tenants under the Tenantries Freehold Purchase Act

Tenants occupying Rural Tenantries are entitled to purchase the land at subsidised prices under the Tenantries Freehold purchase Act (239B).

The National Housing Corporation, in conjunction with the Ministry of Housing will:

1.  Carry out surveys to determine qualified tenants under the Act.

2.  Inform landowners (if necessary) of the proposal to transfer title to qualified tenants, at which point the
landowner to indicate price offer and retain an agent or attorney acting on his behalf.

3.  Inform tenants of their rights under the Act and invite them to file Form I Notices with the landlord.

4.  Seek open market price of the lots offered from the Commissioner of Land Tax. If there is substantial variation from the  price offered by the landlord, the matter shall be referred to the Small Holdings Committee for determination by an Independent Valuer.

5.  Appoint Surveyor (with landlords permission) to survey lots in the tenantry.

6.  Inform tenants of the size and purchase price of their respective lots and the policy in relation to the subsidisation of the lots by Government.

7.  Inform tenants of the legal services available at the Corporation at a cost of $550, which covers administrative costs and recording of conveyance.

8.  Invite Tenant to attend the Corporation with their portion of the purchase price in cheque form.

9.  Send cheque to vendor's attorney and request Draft Conveyance together with a copy of the individual lot plan.

10. Execute stages of conveyancing: Final documents prepared, and both parties execute documents, witnessed by respective attorneys.

11. Exchange disbursed Government subsidy for all Title Documents relating to the particular Tenantry lot.

12. Record conveyance at the land registry and thereafter, provide the new landowner with the conveyance.

Maintenance of Units

The National Housing Corporation provides maintenance services for all of its rental units.

PROBLEMS OR DEFECTS RECTIFIED::

1.   Defective windows

2.   Defective roofs

3.   Defective doors

3.   Cracked or leaking toilet bowls

4.   Cracked or leaking sinks and face basins

5.   Leaking pipes and fittings

6.   Faulty cisterns

7.   Termites and repairs to cabinets due to termites

8.   Electrical faults

9.   Clearing of sewage chokes and drainage of overflowing wells

10.  Debushing and removal of trees.

Tenants can initiate repairs by calling the Customer Care Section or the depot for their area.

Contact numbers for repairs are listed below:

Activities for Financial Year 2008-2009 | Projections for 2009-2010

Rents
During the financial year 2008 - 2009 the Corporation received 619 applications for rental units, but was only able to accommodate 33 families. There were also 218 applications for rental lots of which only thirty (27) applicants were accommodated. It is noticeable that within the last year the applications for houses and lots have increased but families actually accommodated decreased. This brings into sharp focus the serious need to construct additional rental units. In this regard the Corporation has identified several sites for the construction of rental units and of these, has commenced construction at the Country Park Towers (56 units). The other sites are Haggatt Hall (24 units), Stuarts Lodge (22 units), Sayes Court (3 units), Eckstein Village (84 units) and Fordes Rd, Clapham (20 units), It is expected that the units at Sayes Court will commence during this financial year.

Sales of Terrace Units
During the period April 08 – January 09, Thirty four (34) deposits were received. It is anticipated that approximately 70 units will be conveyed during the period 2009 - 2010 with projected revenue of some $ 2.2M.

Free Transfer of Units
Under this programme, tenants who occupied the units for twenty (20) years or more as at January 16th, 2008 will qualify for the free transfer of their units. It is anticipated that 1986 tenants / beneficiaries will qualify and this is expected to result in loss of rental revenue of approximately $4M. per annum. To date approximately 50% of the units have been surveyed and an additional 20% is in progress.

The Corporation has conveyed 20 units at Bonnetts and 2 units at Lammings.
Under this programme 2011 tenants qualified for ownership of their units, and to date 1697 have signed the agreement and are no longer required to pay rent.

Joint Venture
From the inception of the programme 223 houses have been constructed and 298 lots were conveyed. At present construction of houses is in progress at Coverley, Christ Church, and Bulkeley Meadows, St. George. It is anticipated that during this financial year construction of the houses at Hoytes Village and Grazettes will be completed.

It is projected that in 2009 - 2010 approximately one hundred and seven (107) houses will be constructed and one hundred and sixty-five (165) lots will be conveyed.

Primary Homes
This programme has now been suspended and replaced with the H.E.L.P (Housing Every Last Person).
Under this programme one hundred and twenty six (126) houses were completed.

H.E.L.P (Housing Every Last Person)
This programme has been initiated by the new Government where emphasis has been placed on further assistance to low income earners through the provision of a greater number of housing solutions to meet the ever-increasing demand. To date 2154 applications have been received from new applicants. It is expected that this intervention will eventually make housing more affordable for this sector. Under this programme 186 houses started, with 60 being completed.

The H.E.L.P programme seeks to satisfy the demand of Barbadians earning less than $4,116.00 monthly (Z12) by providing affordable houses.

Objectives:

The aim of the programme is to:

(1) provide affordable homes at prices ranging from $100,000.00 to $175,000.00 for a completed house.

(2) sell land separately at prices ranging from $17,500.00 to $35,000.00

The Corporation is on target to complete one hundred and thirty three houses in this current financial year and is projecting that five hundred and sixty-nine (569) housing solutions will be delivered during the following financial year.

Sites and Services
For the period April 2008 to January 2009, one hundred and thirty six (136) lots were conveyed. To date approval has been received from the Chief Town Planner for all the lots under the 500 lots programme. It is anticipated that surveying work will commence in the 1st quarter of the next financial year. The Corporation has also identified an additional 392 lots for sale, comprising 187 middle income lots and 205 low income lots.

Private Tenantries
The Corporation will continue to assist with the transfer of title to tenants under this programme. The work load is dependant upon the referrals from the Ministry of Housing and Lands.

Plantation Tenantries
The Corporation will continue to work on approximately 500 lots to be conveyed spanning 89 tenantries. The challenges here are great as the Attorneys-at-Law for the plantations do not act with any urgency given the comparative paucity of remuneration for the work involved.

Old Estates (Rental Lots)
The Corporation will continue to sell lots in the old estates at $2.50 per sq ft to its tenants. During the period the Corporation has collected $117,500.00 and this is largely due to our new marketing strategies. At this time there are approx two thousand (2000) lots remaining for sale in seventy-six (76) developments. To date approx. 800 lots have been conveyed.

Loans
During the period April 2008 to January 2009, one hundred and thirteen (113) loans were approved totalling $5.8M. To date $ 4.4M has been disbursed. It is projected that four hundred (400) loans will be approved totalling $20M in the period 2009 - 2010.

Other Capital Projects
The Corporation continues to carry out developments on behalf of other Government Agencies. During the financial year, the Corporation constructed some 51 units at Barbarees Hill Phase 2, St. Michael. In addition two (2) additional units will be constructed under this programme. This programme is governed by requests from the Government.