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Jamaica – Property Financing

Mortgages for Foreign Nationals in Jamaica

Local banks and other lenders in Jamaica do issue mortgages to foreign nationals. Some of the local lenders that provide mortgages in Jamaica include:

It is advisable to research and compare the mortgage products offered by different lenders, taking into account interest rates, repayment terms, and any additional fees or charges.

Deposit When Buying a Property in Jamaica

The deposit required when buying a property in Jamaica typically ranges from 10% to 20% of the purchase price, depending on various factors such as the type of property, the location, and the lender’s requirements.

Responsibility for Outstanding Debts on the Property in Jamaica

In Jamaica, new property owners are generally not responsible for any outstanding debts on the property unless they have agreed to assume these debts as part of the purchase agreement. It is important to thoroughly investigate the financial history of a property before purchasing it, including any outstanding debts or liens, to ensure that you are aware of any liabilities that may arise.


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