Still high demand for mortgages
BARBADIANS have not stopped pursuing their dream of owning a piece of the rock. Current tough economic times have only made them more budget conscious.
In fact, financing home purchases is a key area banks are focused on and their most significant area of business in personal lending.
“The fact that you are seeing a lot of advertising around mortgages means there is still a lot of interest,” said Glyne Harrison, president of the Bankers Association of Barbados.
Harrison said there was still interest in land purchases as well as home mortgages. And these mortgages are not only in terms of full-blown properties, but relate to situations where people get bridging loans to actually buy land and start construction. (SP/HLE)
Please read the full story in today’s Sunday Sun, or in the eNATION edition.