THE Jamaica National Building Society (JNBS) has introduced a special offer on its residential mortgage product, with a rate of 9.4 per cent.

Jean Look Tong, Executive, JN Group Marketing, Promotions & Sales, said the period for this mortgage special is 60 days until April 30, and it is open to all applications for residential loans received up to that date, including loans already in the pipeline. JNBS, the largest building society in the Caribbean, is the lead operating entity in the JN Group.

“This offer is for the acquisition of residential property,” Look Tong said, “And, we will provide up to 90 per cent financing on whichever is lower — the purchase price or the value of the home.”

“Our new rate is among the lowest in the market,” she declared. “And for the convenience of today’s customer, Jamaica National’s mobile officers will visit customers at their location or customers have the choice of visiting one of our mortgage centres.”

The organisation’s four regional mortgage centres are based at 30 Dominica Drive in New Kingston; and at the branches on Graham Street in Ocho Rios, and Mandeville Plaza in Mandeville; as well as at the new JN Financial Services, at Catherine Hall in Montego Bay. These centres are supported by mobile mortgage officers, who respond to the financing needs of JNBS members and clients.

The regional sales centres are a key element in the revamped JNBS mortgage operations, which now produce faster turnaround times for loans; and gave borrowers access to real-time information about the status of their application, Look Tong said.

“The new low rate provides enhanced value to our borrowers,” she disclosed.

“We will make a $50,000 contribution towards JN mortgage closing costs,” Look Tong stated, noting that it is a significant benefit when completing the acquisition process.

“An added bonus is a one-year free membership with the Jamaica Automobile Association (JAA), “as it provides a comfort level in meeting a borrower’s vehicular needs,” the marketing executive disclosed.

The JAA, a member of the JN Group, provides roadside assistance and safety advice to road users across the island.

“Jamaica National has been a major player in providing mortgages to Jamaicans, locally and overseas, for many decades; and our expertise in the field has been rewarded by satisfied members, who continue to express their appreciation for our service,” Look Tong affirmed.