The difference between your original mortgage amount and your current mortgage balance is called Equity. Bank of Saint Lucia offers Home Equity Loans to persons who have made long term investments in their property and would like to use the equity in their homes to pay for a current need.
- You can use the equity in your home to pay for Home Improvement, Child’s Education, or Vacation
- There is no cash injection
- You can borrow against 100% of your equity
- Interest rates and loan term can be negotiable
- Easier more cost effective borrowing option
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