JN Cayman introduces mortgage payment moratorium

In response to the coronavirus pandemic and the potential financial impact on some sectors of the Caymanian community, JN Cayman is offering its existing members a three-month moratorium on mortgage payments.

The measure is in effect since 25 March and will be applied on the interest and principal for all mortgage loans.

Jermaine Deans, managing director of JN Cayman, said that members who have already paid their mortgages for March will receive the moratorium for the months of April, May and June.

Jermaine Deans, managing director of JN Cayman

However, conditions apply, in either case, he said.

“This will be a challenging fiscal period, with uncertainties looming as a result of COVID-19,” Deans said. “Therefore, as we continue to monitor the extent of the impact, we are prepared to support our members and customers.”

Deans said Jamaica National believes that it is important to devise strategies to assist members and clients in these difficult times.

The company will also provide general advice to those affected in the form of online mortgage financial seminars and online small business advisory sessions.

The JN Cayman managing director also informed that due to public safety concerns and in order to comply with the government-mandated restrictions, the company has adjusted its hours of operations accordingly.

For more information and to make specific requests for support, JN members and customers are requested to email [email protected].

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