Subscribe for all my updates and don't miss a thing! Sign me up!
Getting a mortgage in Jamaica
by Katrina
(UK )
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...
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...
- Be contributing to the National Housing Trust, and that,
- 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
|
||
|
||
New! Get My Latest Book👇🏿
 |
You asked, I've answered! You no longer need to save for months or years, to enjoy paradise! I spilled the beans! sharing my top tips on finding cozy accommodations and secret gems, only the way a native could! Click Here to pick it up on my e-store and start saving now! |
See The Best Of Jamaica - In Videos!
 |
My channel reaches over 140,000 subscribers worldwide and has leveraged over 11 million views, sharing, what I call 'The Real Jamaica'. Subscribe today and join our family of viewers. |
Read More ...
New! Experience The REAL Jamaica!
Book Your Private Tour here and experience Jamaica the way we (locals) do!
P.S. Didn't find 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.
Featured Video!
Travelling To Jamaica?
Read this BEFORE you go
👇🏿
New Here?
I recommend you START HERE to enjoy the best of this website!
New! For Authentic Jamaican products, from my very own hands, visit my Etsy store here.
Recent Articles
-
Can Foreigners Buy Property In Jamaica?
Nov 23, 24 07:25 PM
Ever wondered, can foreigners buy property in Jamaica? Discover how easy it is for you to invest in Jamaican real estate. -
5 Things You Can Only Buy In Jamaica
Nov 23, 24 01:26 PM
Discover 5 unique and authentic things you can only buy in Jamaica, from world-renowned Blue Mountain Coffee to handmade Jamaican dolls and local wood carvings. -
101 Medicinal Herbs Of Jamaica- Top Natural Healing Herbs Of Jamaica
Nov 20, 24 09:27 PM
Here they are! The top 101 medicinal herbs of Jamaica. These ancient wonders that have provided effective natural healing from our parents and fore-parents. Ready? -
Does Jamaica Recognize Common Law Marriage?
Nov 20, 24 11:50 AM
To marry or not to marry? Once frowned upon, there’s much more leniency for common-law relationships these days. Does Jamaica Recognize Common Law Marriage? -
Can Jamaican Black Castor Oil Be Used On Your Face?
Nov 19, 24 05:29 PM
We have long discovered the great benefits of castor oil for our hair. But can Jamaican Black Castor oil be used on your face?
About The Author
A patriotic Jamaican who adores its 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 9,300 unique readers / viewers per day (and over 1.1millon page views monthly)
His efforts have earned this site 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. Read more about him here.
He invites you to explore his books and subscribe to this site to stay updated on all the latest here on site.
You are also welcome to check out his unique Jamaican products on his e-store.
If you are on social media, here are the links to follow his latest posts:
You are also invited to join his exclusive JAMHearts community where like-minded Jamaican enthusiasts discuss all things Jamaican.
Didn't Find What You Are Seeking?
Do a quick site search here: