NATIONAL Housing Trust (NHT) mortgagors who settle the outstanding balances on their accounts during the period October to December will benefit from discounts ranging from nine to 11 per cent.

This latest discount is one of two payment incentives being offered by the NHT.

The second incentive is a waiver or a reduction in the 12.5 per cent debt management fee, normally imposed on accounts in arrears.

“Under the Pay-Off Incentive Programme, all mortgagors who close their mortgage accounts during the period October to December 2006, are eligible for discounts on the amounts owing,” the NHT said in a statement yesterday.

The NHT said the discount for those persons who closed their accounts in the month of October would be 11 per cent; 10 per cent for those who settled in November; and nine per cent for mortgagors paid up in December.

For those persons whose payments are in arrears for 60 days or over, a waiver or reduction in the 12.5 per cent debt management fee is the offer on the table.

This waiver is only available to people who pay off their entire arrears during October to December 2006, the NHT said.

“If they pay 75 per cent to 99 per cent of the amount in arrears during that period, they will enjoy a 6.5 per cent reduction of the fees.”

However, if they pay less than 75 per cent of the arrears, the full 12.5 per cent debt management fee will be applied, the NHT added.