Mortgages In The Turks & Caicos Islands

Requirements For US Dollar International Mortgages

Terms:

• Amortized over 15 yrs.
• 70% financing if buying - 50% financing if building.
• Vacant Land Financing - 50 % financing/amortized over 5 years.
• Rate - Variable Bank Base + 2%.
• 3 & 5 year Fixed terms available for financing of $500k and over -- Indicative Rate acquired for
  quote on fixed terms.
• 1% negotiation fee, 1% Legal Fees, 1% Registration of Mortgage (Stamp duty).

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Requirements:

• Completion of personal/corporate account opening form and process (if non-client).
• Completion of mortgage application.
• If completion in branch - one form of identification and one address confirmation is required.
• If completion by mail/courier, either two forms of identification and one address confirmation, or one form of identification and two address confirmation.
• Six months’ worth of bank statements (including, savings, current, investments, and existing mortgages); if self-employed it should be twelve (12) months’ worth.
• Three years’ worth of tax returns.
• A bank reference from a bank where you have banked for more than two years.
• A Credit Reference Report.
• A letter of employment confirming length of service, position, and salary.
• If self-employed, letter from accountant or lawyer confirming ownership of business and salary.
• If self-employed, three years’ Financial Statements for the business.
• Appraisal Report (requested by Bank)
• Copy of signed sales agreement.
• If building, complete contractors estimates to complete project.

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Security Requirements:

• 1st Legal Mortgage over the property.
• All perils homeowner’s insurance for the mortgage value assigned to the Bank.

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Download Mortgage Application Form