NCB Mortgage - FAQs
NCB Mortgage
FAQs
Q: What is the NCB Mortgage facility? A: In simple terms, it is a loan for which your house functions as the
collateral. The bank or mortgage lender loans you a large sum of money (typically no more than 90 percent of the price of the home), which you must pay back (with interest) over a set period of time.
Q: Do I have to be an existing NCB customer in order to apply for an NCB
Mortgage facility?
A: Anyone with a desire to own a house may apply; this includes existing
NCB customers and individuals who are not yet NCB customers.
Q: How old do I have to be to apply for an NCB Mortgage facility? A: Generally, between the ages of 18 to 65 years. Customers over 65
may however be considered based on their particular circumstances.
Q: What is the minimum I can borrow from NCB through the NCB
Mortgage facility?
A: The minimum NCB Mortgage loan amount is J$1,000,000.00
Q: What is the maximum I can borrow if I am purchasing my primary
residence?
A: The maximum amount you can borrow for a primary residence is J$
40,000,000.00
Q: What is the maximum amount I can borrow if the house I am
purchasing is an investment property?
A: The maximum amount you can borrow to purchase an investment
property is J$30,000,000.00
Q: Can the property being purchased be located outside of Jamaica? A: No. We currently only offer the NCB Mortgage facility for properties
located within Jamaica.
Q: How long do I have to repay the loan? A: Generally, the maximum repayment period is 30 years or the number
of years left to retirement age, whichever is less.
Q: Can I apply for the NCB Mortgage f a c i l i t y jointly with my spouse,
child, parent or sibling?
A: Yes you can. As long as KYC has been established for all parties
involved and all parties are between the ages of 18-65 years.
Q: What personal documents will I need to apply for an NCB Mortgage
facility?
A: Some of the documents you will need include:
? Completed Mortgage Application Form ? Salaried applicants: Income verification letter and last
pay advice or last three months' pay advices. ? Self-employed: Financial Statements (audited or in-house)
and bank statements, Auditor's confirmation of income. ? Proof of funds to complete the transaction ? Proof of age (valid passport/birth certificate) ? Tax Registration Number (TRN) ? Copy of signed sale agreement ? NHT referral letter (where applicable)
Q: What other documents will I need? A: Other documents you will need include:
? Valuation report, not more than twelve (12) months old from the Bank's panel of valuators
? Surveyor's Identification Report not more than twelve (12) months old indicating that there are no encroachments and that no covenants have been breached
? Adequate Life Insurance coverage ? Photocopy of Certificate of Title ? NHT commitment l e t t e r (where applicable) ? Current Property Tax certificate ? Peril Insurance for full replacement cost of the building ? Evidence of strata coverage (where applicable)
Q: Can I apply online or do I have to apply in person? A: You may begin the application process online at but
the process has to be completed in person at your nearest NCB branch.
Q: In addition to the NCB Mortgage facility, can I combine my National
Housing Trust (NHT) benefits?
A: Yes, NHT benefits can be combined with your NCB Mortgage.
Q: How long will my loan application take for approval? A: Your NCB mortgage application will generally take approximately
three- six days to be approved after receipt of all required documents (Refer to our mortgage checklist).
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