Getting a mortgage in Jamaica

by Katrina
(UK )

getting a mortgage in Jamaica


Katrina is coming home, yeah!!! But she needs some guidance and information on getting a mortgage in Jamaica, but on a particular condition. I responded in detail below.

But first, here's her question...

Hi, My name is Katrina, I’m looking at moving to Jamaica in the next 3-5 years permanently.

But in the meantime I’m looking to buy a property, that I can start working on and possibly use as a B&B.

My question is, am I able to get a mortgage in Jamaica based on my employment in the UK? If so what’s the process, and how do I start?

Best wishes
Katrina

ANSWER: by Wellesley

Hey Katrina!
Great question again, thanks for asking.

Unfortunately no, on the face of it, you are not be able to get a loan solely on your employment in the UK.

I thought about the National Housing Trust first, that's the government agency that provides housing loans and benefits.

Their requirements are fairly straightforward.
They state for example, that you must...


  1. Be contributing to the National Housing Trust, and that,
  2. The last 12 months' contribution must have been paid timely


Do me a favour and read this article on the full requirements to get a NHT loan, to gain a deeper insight.

I also reached out to the banks, and the response is basically the same.
You CAN get a mortgage here, but the requirements will not factor your UK job history.

One of the leading banks here, for example, stated that, if applying for a mortgage as an employed person (meaning and employee), you'd need to be working permanently in Jamaica for at least 12 months and is getting your salary through a bank account; if on a contract, 2 years.

And, if self employed, your business would need to be registered and operational for two years. You'd also need to provide a Tax Compliance Certificate (TCC) as well as a bank statement for those two years as well.

I may not have given you the answer you hoped for, but this should provide some guidance and direction for you.

By the way, I think you might be interested in my articles on how to register a business in Jamaica as well as some key tips on buying real estate in Jamaica.

All the best.

As usual, I welcome your feedback here.

Regards,
WG

P.S. Have another question? Submit it here for an answer.

P.P. S. We've answered HUNDREDS of questions, click here and here to get even more answers.

Comments for Getting a mortgage in Jamaica

Click here to add your own comments

Oct 01, 2019
Recommend VMBS
by: Cynthia

After several attempts at obtaining a mortgage with various other institutions, I was finally able to get thru with VMBS. Give them a try

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to JamaicaQuestions.

New! Talk To Me
Was the information helpful? Something needs changing? I welcome your feedback here.

Read More ...

Recommended For You ...

Caution!
Don't Make The Mistakes Others Do!

Get The TIPS & TRICKS For Your Jamaica Vacation In Our Jamaica Travel Guide!

jamaica travel guide

Click Here To Get Your Copy

And, Before You Go!

Here (below) are some sweet deals on matching products at Amazon that you might have otherwise missed. 

Amazon.com, by the way, is the internet's most reputable retailer and usually showcases only the best products that are related to your search. Be sure to check them out.

Note: If link does not show, please click here to be redirected to our page at Amazon.com.


Great Articles You Might Have Missed

data-matched-content-rows-num="2" data-matched-content-columns-num="3"

Please help me get the message out by sharing this article with your friends on social media (links below). Thnx ;-)

Also connect with My-Island-Jamaica.com on Social Media: 
Facebook | Twitter | Instagram | Youtube

Thank You!

P.S. Didn't find exactly what you were looking for? Still need help?

Click Here to try our dependable and effective Site Search tool. It works!

Or, simply click here and here, to browse my library of over 500 questions and answers! Chances are someone already asked (and got an answer to) your question.


About The Author

wellesley gayle - booking link

A patriotic Jamaican who adores his culture, Wellesley has been using this medium to share what he calls 'the uniqueness of Jamaica with the world' - since April 2007.  

To date, he serves over 8,300 unique readers / viewers per day.

His efforts have earned him featured positions in local publications, including the Jamaica Gleaner's Hospitality Jamaica, Carlong Publishers, as well as recognition from numerous prestigious international agencies and universities.

He invites you to join his friends list and stay updated on all the latest. You are also invited to join his exclusive patron community

copyscpe
Top Of Page
Wellesley Gayle

New Here?

I recommend you START HERE to enjoy the best of this website!


What's New?

Click Here to see the VERY latest articles and features.


Trending Now

Site Sponsors

jamaica_click_down_here_visit_our_sponsors

Our Preferred Sponsors  & Friends (below)

(Our Sponsorship Policy)

list your business here

Builders in Jamaica - Building Contractors
Recommended Building Contractors In Jamaica Photographers in Jamaica
Wedding Photographers
Cars For Sale In Jamaica
Cars For Sale

JamaicaSunshine Tours.com

Click Here to Visit Our Sponsors' Page

Top Articles

What's New?

Below is a list of the very latest articles I posted on the site.

Recent Articles

  1. Rio Grande Jamaica |Idyllic River Rafting You'll Cherish A Lifetime

    Oct 13, 19 07:29 PM

    Experience idyllic river rafting adventure on the famous rio grande Jamaica, Portland and Jamaica's best river rafting attraction.

    Read More

  2. Magical Glistening Waters Jamaica | 15 Questions With Answers

    Oct 12, 19 11:14 PM

    This magical bioluminescence marvel in Falmouth Jamaica, is one of only five (5) found on earth! It is the magical glistening waters jamaica attraction!

    Read More

  3. Jamaica Area Code (s) | 876 & The New 658 - New Way To Call In JA

    Oct 12, 19 12:44 AM

    You've heard the chatter, but what's with the current and new Jamaica area codes? Here's the full (and vital) information to ensure that you are not impacted.

    Read More

  4. Jamaicans in Heaven

    Oct 11, 19 03:25 PM

    Jamaican Joke - Jamaicans In Heaven Author Unknown This is a real thriller, thanks Nadeen! St. Peter came to the Lord and said, 'Lord, I have to talk

    Read More

New!  I've created a Welcome Audio. Just click the Play button below to listen.

Please subscribe here to get my latest updates.