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Sagicor Bank offers 7.5% mortgage loan up to December 2018

Published:Monday | September 3, 2018 | 12:00 AM

Sagicor Bank Jamaica is now offering a mortgage rate of 7.5 per cent for new mortgagors starting today. The offer ends on December 31, 2018.

Michael Willacy, vice-president, corporate, SME and retail banking at Sagicor Bank, said that in addition to the low interest rate being offered, new homeowners can expect to have their loans processed in 45 days or less.

"The market in general processes loans within 90 days, but we want to help our clients get the keys to their homes faster," a release quoted Willacy as saying.

"We know how much home ownership means, especially for first-time homeowners, and we at Sagicor Bank want to ensure we make the process as seamless as possible," he added.

In addition to offering one of the lowest interest rates for mortgages among financial lending institutions, the bank is offering a three-month moratorium on principal and interest payments for new mortgages for residential home buyers and a pre-approved credit card with 20,000 bonus points.

To further ease the processing burden, Sagicor Bank will also cover the cost for mortgagors' credit reports up to December 2018.

"At Sagicor Bank, our job is to do everything possible to ensure that our clients have a good experience when conducting business with us. We want our clients to enjoy the entire process of buying a home, and we want them to know we are here to help them along with making their dreams a reality," Willacy said.