Fidelity Finance facilitates Mortgages on behalf of Maritime Life (Caribbean) Limited.

Buying a home or acquiring a property is a huge step in anyone’s life. It is likely one of the biggest purchases a person will ever make and it’s a huge financial responsibility. Mortgage loans are available for the following:

  • Home Construction
  • Home Renovations
  • Purchase of Land
  • Purchase of Owner-Occupied Home
  • Equity Financing

What do I need?

For Approval

  • 2 forms of Identification (Drivers Permit, National Identification Card, Passport)
  • Current Job Letter & Salary Slip
  • Proof of Address (Utility Bill, Bank Statement, Official Letter)
  • Bank Statement (last 3 months)
  • Downpayment/Funds for Closing Charges evidenced by statements from Finance Company/Bank/Credit Union/Unit Trust etc.
  • Purchase Agreement
  • Valuation Report (within 3 months) from one of our approved valuators: Linden Scott & Associates, Raymond & Pierre, Brent Augustus & Associates, Terra Caribbean or David W. Knott (Tobago)
  • Copy of Title Deed or Mortgage Deed

For Finalization

  • Up-to-date receipts for Land and Building Taxes (2009 until further notice), Water Rates and WASA Clearance Certificate
  • Statement on existing mortgage loans (if applicable)
  • Release in Escrow from mortgagee company (if applicable)
  • Life and General Insurance (available at The Maritime Financial Group or from an approved provider)

Additional requirements for construction / renovations:

  • Approved Building Plans
  • Contractor’s Estimates
  • Quantity Surveyor’s/Engineer’s Report
  • Valuation report on completion of construction or renovations
  • Completion Certificate (after construction)

Mortgage Guidelines

Mortgagor (The Borrower) Mortgage installment within 30% of gross income. Total installment on loans should not exceed 40% of gross income. For variable income applicants, total installment on loans should not exceed 30% of gross income.
Amount Minimum value of property $500,000. Basic ratio of loan to property – 80% (lower of valuation or purchase price). Additional 10% with mortgage indemnity bond (conditions apply). Valuations by Raymond & Pierre; Linden Scott and Associates Ltd; Brent Augustus and Associates Ltd; Terra Caribbean; D.W. Knott (Tobago).
Interest Rate Competitive interest rate starting at 7% and fixed for the first 3 years.
Term Minimum 10 years Maximum 30 years or up to age 65 or retirement if earlier.
Fees 1% up to a maximum $5,000.
Owner Occupied Not compulsory.
Life and General Insurance Available from Maritime.
Early Repayment No charges apply for home repairs or equity (education, medical, investment etc.).
Other financing available Land and Bridging financing available from us at Fidelity Finance

M.O.R.E. (Mortgage for Own. Rent. Equity.)

  • The only mortgage that allows you to own and occupy, or purchase to rent at the same preferred rate
  • Approval of facility within 48 hours (subject to normal lending criteria)
  • Finalisation within 3 to 6 weeks (subject to legal process)
  • Not limited to first time owners
  • Not limited to owning one property
  • Refinancing available

Click here for the Mortgages brochure