Land Loans

Bank of Saint Lucia makes it possible to own your own piece of Saint Lucia by offering favorable rates on land loans and providing savings options to assist customers with deposits specifically geared at land and home ownership.

 

For customers looking to purchase land with a view to building their first home, a Home Start account provides favorable interest rates on savings and allows you to qualify for reduced interest rates on your land loan.

 

Land purchase can become quite complicated and lengthy if you are not aware of the many banking and legal requirements. A Bank of Saint Lucia lending officer will guide you through the process, making land ownership a reality.

 

What you will need:

 

  • Picture I.D. (2 forms for first time customers)
  • Down payment/equity - amount varies generally between 10 - 30%
  • Letter from Employer stating length of service
  • Salary Slip (latest)
  • If residing overseas please submit the following in addition to the above:
    • Credit Bureau Report
    • Past 3-years income tax returns
  • Vendor’s letter stating price
  • Copy of vendor’s Deed of Sale
  • Copy of Land Register (recent)
  • Copy of Survey Plan
  • Valuation from Certified Valuator/Quantity Surveyor
  • Certification from the following entities proving compliance with their requirements (applicant & vendor)
    • Inland Revenue Department
    • Property Tax Department
    • National Insurance Corporation

Letters from the departments/institution should state in detail the amounts outstanding and arrangements made to settle.

  • Funds for Legal Fees, other costs and bank charges

 

Self employed persons need all except 3 and 4 above in addition to:

 

  • Evidence of income
  • 3 Years balance sheet—existing business
  • Certificate of Incorporation or Certificate of Continuance


Please call or visit one of lending officers or personal bankers today!