Friday 27 November, 2020

Gov’t to discuss further HDC, TTMF deferrals

Minister of Finance, Colm Imbert

Minister of Finance, Colm Imbert

Minister of Finance, Colm Imbert says the government will be approaching the Housing Development Corporation (HDC) and the Trinidad and Tobago Mortgage Finance Company (TTMF) for a further one-month deferral to mortgages. 

Speaking at today’s virtual media conference, Imbert said it could be a touchy request, but one he’s willing to make. 

“HDC had originally agreed to defer payments for two months. I’ve had requests coming to me for a three-month deferral and it is something I’ve asked the board of the HDC to look at and certainly, I can ask the TTMF for an additional month’s deferral for mortgage payments, but I can’t give a commitment at this time,” he said. 

The Minister says there’s still more to consider in these requests since deferrals mean a loss of income for the company. 

“All of these things have a financial implication; they don’t stand on their own. There is a cost attached to that because if TTMF, for example, stops collecting its monthly payments, that’s a whole month’s income gone,” he added. 

Get the latest local and international news straight to your mobile phone for free: