The mortgage wars are on!
As Jamaica’s banks and financial institutions race to attract new customers with lower interest rates and innovative offers. It means more options for Jamaicans seeking the dream of
On Friday, Victoria Mutual Building Society announced
But last evening, Jamaica National Bank raised the stakes, one-upping VMBS by offering
JN Bank’s Chief of Marketing and Product Development, Saniah Spencer, says it’s now a part of their permanent offering. Interest rates on the
Competitors NCB and Scotiabank have gone even lower. Two weeks ago, Scotiabank announced it was dropping its rates to a market-leading 6.99
But is it a race to the bottom? Are banks now taking on too much risk by not requiring customers to make any personal sacrifice to own a home?
All in all, it’s good news for those seeking to own their own home, as the options are becoming more and more attractive. The competition comes in the wake of lower interest rates on NHT mortgages announced recently by the government, as well as lower taxes to close the transaction.