Home Improvement Loans

The main features are:

  • Choice of rate from the above rate structure
  • Waiver of Mortgage Indemnity Premium
  • No processing / commitment fees
  • No penalties for early repayment
  • No penalties for lump sum payments
  • Maximum term of fifteen (15) years

 

Requirements: Mortgage Application – Home Improvement Loans

 

  1. Completed application form signed by all applicants.
  2. Title Deed/Deed of Conveyance, in duplicate, of the property to be mortgaged.
  3. Original Valuation Report (not more than six (6) months old) outlining the current value of the property (refer below for the Bank’s panel).
  4. Land & building tax receipt (for current year), Lease rent receipt, Maintenance charges receipt, Water rates receipt & WASA Clearance Certificate (for current quarter).
  5. Original Job Letter (not more than one (1) month old) outlining job status, length of service, position title & breakdown of income & allowances.
  6. Original Salary Slip (not more than one (1) month old).
  7. Self-Employed Individuals: Audited Financial Statements for past 3 years and Bank Statements for the past 3 years.
  8. Original Statements from all financial institutions – Banks, Credit Unions, Unit Trust etc. (not more than one (1) month old) outlining the current value of savings and investments.
  9. Original Statements from all financial institutions – Banks, Credit Unions, Finance Companies etc. (not more than one (1) month old) outlining ALL loan commitments. (Must include loan balance, purpose granted, and monthly payment).
  10. Two (2) forms of Valid Identification (Passport, Driver’s Permit or Identification Card).
  11. Is the property currently mortgaged?

If yes: The name, address and telephone number of the Attorney handling the relevant Deed(s) of Release.

Additional documentation for Townhouses or Condominiums

  1. Copy of share certificate in the current owner’s name
  2. Statement from Management Company confirming that lease rent and maintenance charges are paid to date
  3. Articles of continuance and By-laws and certificate of continuance for the management company

 

 

Panel Of  Valuators

Address

Telephone Numbers

1. Linden Scott Associates

1 Anderson Terrace, Maraval  622-1149/ 622-4914

2. Raymond Pierre

111 Oxford Street, Port of Spain  623-4945

18-20 High Street, San Fernando

 653-2847
Eleanor Street, Chaguanas 671-1370
3. Ray Pierre 121 Henry Street , Port of Spain 624-7015 / 624-4101
25 Penitence Street, San Fernando 657-7162/ 657-5630
Unit 5, Level 3 Block B, NIB Mall
Scarborough, Tobago 639-3077
4. G. A Farrell & Associates 23 Ariapita Avenue, Woodbrook 624-8628 / 6629 or 627-5670
  25 Penitence Street, San Fernando 657-7162/ 657-5630
5. Brent Augustus Associates 18 Dundonald Street, Port of Spain 623-1946
6. BCQS International  8 Herbert Street, St Clair 622-2277

7. Charles B Lawrence

 59 St Vincent Street, Port of Spain 627-1458

8. Terra Caribbean

  #5-7 Sweet Briar Road, Port-of-Spain 628-2391