The New Building Society (NBS) has announced its readiness to implement the government’s new $30 million mortgage loan ceiling, promising to make home ownership a reality for more Guyanese families than ever before.
Following President Irfaan Ali’s recent directive to raise the loan limit and cap interest rates at 5%, NBS officials say the institution is fully prepared to process applications under the expanded terms. The move is expected to benefit thousands of prospective homeowners, particularly middle-income earners who previously found it difficult to secure adequate financing for their dream homes.
NBS CEO Anil Beharry confirmed that the society’s systems and staff are in place to handle the anticipated increase in demand. “We are excited to be part of this transformative initiative. Our team is ready to guide applicants through every step, from application to approval, ensuring that more Guyanese can access affordable mortgages,” Beharry said.
The new loan ceiling, up from the previous $20 million limit, is part of a broader government push to stimulate the housing sector and drive national development. With the interest rate capped at 5%, monthly payments will become more manageable, making it easier for families to build or purchase homes in a rapidly growing economy.
NBS branches across the country have already begun outreach efforts, hosting information sessions and providing personalized consultations to help customers understand their options. The society has also streamlined its application process, aiming for faster approvals and greater transparency.
Homeowners and industry stakeholders have welcomed the change, calling it a timely boost for the construction sector and a major step toward fulfilling the dream of home ownership for all Guyanese.
As the new policy takes effect, NBS is encouraging interested individuals to visit their nearest branch or contact their customer service lines for more information. With the expanded loan ceiling and supportive interest rates, the journey to building a dream home has never been more accessible.
