Jamaica · HOUSING

The waiver follows a six-month payment pause for homeowners hit by Hurricane Melissa, easing costs for about 36,000 mortgages.

Relief work in Jamaica after Hurricane Melissa. About 36,000 mortgages received a six-month moratorium, with peril premiums also waived. (Photo: World Central Kitchen, CC BY 4.0, Wikimedia Commons.)

The National Housing Trust has waived J$585 million in storm insurance premiums for Jamaican homeowners. Prime Minister Andrew Holness announced the move on 6 June 2026.

And the Jamaica Gleaner and Caribbean News Global reported on it again in August.

What the Waiver Covers

The National Housing Trust waived peril-insurance costs for mortgage holders who benefited from a six-month moratorium. This pause ran from November 2025 to April 2026, following Hurricane Melissa.

Peril insurance on an NHT mortgage covers damage from events like hurricanes. It is normally compulsory, and the premium is charged to the borrower.

Who Benefits

About 36,000 mortgages in affected areas received the six-month moratorium. State minister Fitz-Henley gave this figure in Parliament, reported on 6 June 2026.

Therefore, the waiver applies to those same mortgage holders.

Understanding the Moratorium

A moratorium is a pause on payments. It does not cancel the debt, but it stops instalments falling due for a set period.

In this case, the pause helped homeowners recover from the storm. Meanwhile, the premium waiver removes an additional financial burden.

The Role of the National Housing Trust

The National Housing Trust is Jamaica’s state housing agency. It is funded by contributions from workers and employers and lends for home purchase and construction.

As a result, the trust plays a key role in helping Jamaicans own homes. This waiver is part of its support during natural disasters.

Hurricane Melissa’s Impact

Hurricane Melissa struck Jamaica as a Category 5 hurricane in late October 2025. The storm caused widespread damage, prompting the mortgage relief.

In addition, the moratorium and waiver aim to ease financial stress. Still, the debt itself remains, but payments are deferred.

Announcement and Reporting

Prime Minister Andrew Holness announced the waiver on 6 June 2026. The Jamaica Gleaner and Caribbean News Global reported on it again on 21 and 22 August 2026.

Moreover, the state minister Fitz-Henley provided the beneficiary count in Parliament. This confirms the scale of the relief.

What This Means for Homeowners

For affected homeowners, the waiver means lower costs during recovery. Instead of paying peril insurance premiums, they can focus on rebuilding.

Even so, the waiver is limited to the moratorium period. After April 2026, regular payments resume.

How the Waiver Works

The National Housing Trust typically charges peril insurance premiums to borrowers. However, for the six-month period, these charges were waived.

In short, the trust absorbed the cost of J$585 million. This is a direct financial benefit to about 36,000 mortgages.

Overall Impact of the National Housing Trust

Overall, the National Housing Trust shows its commitment to disaster relief. By waiving premiums, it reduces the burden on storm-affected families.

Although the debt is not cancelled, the pause and waiver provide breathing room. Therefore, this measure supports recovery and stability.

Frequently Asked Questions

What is the National Housing Trust?

The National Housing Trust is Jamaica’s state housing agency. It is funded by contributions from workers and employers and lends for home purchase and construction.

How much did the National Housing Trust waive?

The trust waived about J$585 million in peril-insurance costs. This applies to mortgage holders who benefited from the six-month moratorium after Hurricane Melissa.

Who is eligible for the waiver?

The waiver covers mortgage holders in affected areas who received the six-month moratorium. About 36,000 mortgages benefited from that pause, according to state minister Fitz-Henley.

Does the moratorium cancel the debt?

No, a moratorium is a pause on payments. It stops instalments falling due for a set period, but the debt remains.

Sources: Jamaica Gleaner; Caribbean News Global; Jamaica Observer.