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JN Cayman Offers three-month Moratorium on Mortgage Payments Amid COVID-19 Outbreak
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In response to the coronavirus (COVID-19) pandemic and the potential financial impact on some sectors of the Caymanian community, JN Cayman is offering a three-month moratorium on mortgage payments to its existing members.
The offer became effective Wednesday, March 25, 2020 and will be applied on the interest and principal for all mortgage loans.
Jermaine Deans, managing director of JN Cayman, explained that members who have already paid their mortgages for March will receive the moratorium for the months of April, May and June.
“For those members, whose mortgages have not yet been paid for March the offer will be valid for March, April and May. However, conditions apply, in both instances,” he said.
Mr Deans added that the measure is being implemented to provide relief for persons, who may experience economic hardships as a result of the COVID-19 pandemic.
“This will be a challenging fiscal period, with uncertainties looming as a result of COVID-19. Therefore, as we continue to monitor the extent of the impact, we are prepared to support our members and customers,” he stated.
Mr Deans noted that as a company that is built on providing value, to its members; and by extension the communities in which it operates, JN believes that it is important to devise strategies to assist members and clients as they weather these difficult times.
He stated that the company will also employ a sustained approach to provide general advice to affected persons and their communities.
This will be provided through the following:
- Online Mortgage Financial Seminars
- Online SME 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 info@jncayman.com.ky.
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