by: Michael Willacy

Sagicor Bank's Vice President- Retail, SME and Corporate Banking

The mortgage market is an ever-changing one and it is a very interesting time for us at Sagicor Bank now. We remain focused on being agile and creative in adapting to the changing needs of those we serve. We are excited to be able to provide you, our valued clients, with products and services that assist you in accomplishing your dreams, whether it be home ownership or otherwise. As the market has evolved, so have our methods. We have taken a personal approach to our mortgage solution, offering simple banking models to take you closer to home ownership in a much faster time, with the process being as seamless as possible.

WHAT CAN CLIENTS EXPECT?

• Always #InYourCorner, Sagicor Bank offers a competitive interest rate of 7.5 per cent, to enable Jamaicans from all income brackets to afford their dream home. You may recall that we began a mortgage rate reduction some years ago despite the industry standard of an upward trend in interest rates. 
• New home owners can expect an efficient processing time of up to 45 days, prior to which the industry processing time for mortgagors in Jamaica was within 90 days.
• Last year, we introduced an offer of 7.5 per cent interest to new residential mortgagors, with a three-month moratorium on principal and interest payments, in addition to a pre-approved credit card with 20,000 bonus points.
• We add even more value by covering the cost of the credit reports for all mortgagors. 

It’s very important to note that with the recent developments in the mortgage sector, we have also increased mortgage financing to 100 per cent, up from 95 per cent. 
Our personal approach goes beyond the mortgage process. To truly welcome you home, Sagicor Bank has also hosted house warming parties for clients who recently processed their mortgages. Friends, our mission to help you accomplish your dream of home ownership is still alive today. With thought and care, we will continue to improve for the long-term good of the clients who rely on us.