Borrowing

A loan that fits your life

Bank of Montserrat offers simple lending solutions to help you manage cash flow and prepare for opportunities as you, your family, and your business grow.

Fast response

We are committed to providing swift and efficient solutions to your financial requirements, ensuring you have the support you need when you need it the most.

Rates that work with you

At the Bank of Montserrat, we understand that securing a loan is a significant financial decision. That’s why we are committed to providing you with rates that work with you, your goals, and your unique financial situation.

Flexible repayments

At the Bank of Montserrat, we understand that every customer’s financial situation is unique. That’s why we offer “Flexible Repayments” as part of our commitment to providing tailored solutions for your borrowing needs.

Personal Loan

Sometimes you need money for things that just don’t fit into a neat category, like a home or a car. The Bank of Montserrat still wants to help. Our low-rate, flexible lending options can provide you with the cash you need, when you need it! Get peace of mind knowing you will have an extra financial cushion when the need arises.

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Mortgage

Whether you are building, buying or refinancing – at Bank of Montserrat we have a loan for you. Our experienced lenders work with you to find the best mortgage solution for your financial situation and home buying goals.
Finance a new home
Refinance your home
Construction Loans

Requirement of Mortgage Loans

  1. 2 ID’s
  2. Job letter
  3. Salary slip
  4. If self-employed:
    1. Business registration documents
    2. Provide proof of income (2 years bank statements from Business account)
  5. Vendors ID
  6. Vendors sale agreement (to be signed and witness)
  7. Vendors Title Deed
  8. Vendors Land Certificate
  9. Map sheet /Survey Plan
  10. For construction loans:
    1. Copy of Approved plans
    2. Building approval from the Ministry of Physical Planning
    3. Cost estimated from contractor /bill of quantities
    4. Contractors al risk insurance –obtained during construction phase
    5. Comprehensive insurance upon completion of construction
  11. Valuation of property by qualified property valuators –Keith Thomas / Adrian Galloway
  12. For overseas customers:
    1. 3 years’ income tax statement
    2. Reference letter
    3. Credit report (Equifax/Experion etc)
    4. Alien land holding license
  13. Bank fees: 1.00% of loan amount
  14. Legal Fees paid to attorney for preparing the mortgage charge
    1. (Fitzroy Buffonge, Marcelle Watts, Office of Allen Markhman and Associates).
  15. Statement of Affairs (attached form)
  16. No Deposit requirement for locals
  17. Rates -  5 - 6% (Loans are priced according to risks assessed)
  18. Monthly budget outlining income and expenses (attached form)

OTHER REQUIREMENTS/INFORMATION

  1. Land Mortgage:
    1. 10% deposit requirement for overseas customer 
    2. Term: 10 years
  2. Construction/Land & House Purchase:

    1. 10- 25% deposit requirements for overseas customers (% depends on risk assessed).

    2. Term: 10 – 30 years Mortgages (age plus mortgage term should not  

      exceed 65 years)

  3. 3 to  6 months loan repayments to held in a savings account to act as buffer ( for circumstances such as loss of job, relocations, illness)
Requirement Of Mortgage Loans
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Mortgage Loan Calculator

Auto Loan

Sometimes you need money for things that just don’t fit into a neat category, like a home or a car. The Bank of Montserrat still wants to help. Our low-rate, flexible lending options can provide you with the cash you need, when you need it! Get peace of mind knowing you will have an extra financial cushion when the need arises.

Requirements For Vehicle Loans

  1. Two forms of ID, - A valid driver’s license and/or, passport, National ID
  2. Job Letter
  3. Salary Slip
  4. New Vehicle - An invoice from Dealer
  5. Used Vehicle - Vendors letter stating price and the following)
    1. Make/model
    2. Chassis number 
    3. Engine number
    4. Age/date manufacture
    5. Colour
    6. Engine Capacity
    7. Engine Model
  6. Copy of vendors last insurance certificate
  7. Insurance quotation
  8. Valuation
  9. 10% deposit required for new vehicle 
  10. 20% - 50% deposit for used vehicle (deposit requirement is dependent on the age)
  11. Legal fees to be paid to attorney for the registration of Bill of Sale
  12. Bank fee = 1% of the loan amount
Requirements For Vehicle Loans
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Applying for a loan? We’re here to help.

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