by Khareem Cabey 
In an exciting development for prospective homeowners in St. Kitts and Nevis, the St. Kitts Nevis Anguilla National Bank (SKNANB) has announced a groundbreaking mortgage initiative called OWN. Launched at a high-profile event on November 3 at Independence Square, OWN is touted as a game-changer in the home mortgage landscape, aimed at making homeownership a reality for the ‘regular man’.
OWN’s features are indeed competitive, offering the opportunity to borrow up to EC$1 million, with an appealing interest rate of 3.99% per annum. This new initiative stands out with its customer-friendly terms: no payments for the first three months, and no interest accrued during this period. Borrowers can utilize this mortgage to build, purchase, or complete a home under construction, consolidate debts, pay off student loans, purchase land or a vehicle, and cover legal fees and closing costs, with terms extending up to 40 years.
This initiative is part of a broader commitment by the National Bank and the Ministry of Sustainable Development to facilitate easier access to land and homeownership. Hon. Dr. Joyelle Clarke, Minister of Sustainable Development, highlighted that the partnership aims to empower citizens through expedited land access programs and by ensuring regular payments on land to hasten ownership.
Moreover, the OWN Home Mortgage is a significant addition to the National Bank’s suite of products, and with the bank’s strong financial standing — boasting assets over $3 billion and a loan portfolio in excess of $1 billion — it’s a solid option for those looking to invest in real estate. The bank, serving the federation for over 52 years, is positioned as a financial institution dedicated to empowering the community and contributing to local economic growth.
In the words of Mr. Anthony Morton, Executive Manager of Business Development and Marketing at the National Bank, OWN Mortgage is set to “transform lives and bolster our local economy,” providing a path to secure homes and contribute to sustainable development in the islands. The bank’s commitment to customer-centric services is evident, as it continues to offer innovative financial solutions that enable individual achievement and drive business success.
With the launch of the OWN mortgage initiative, SKNANB has reaffirmed its role as a pillar in the financial sector of St. Kitts and Nevis, offering more than just banking services but a chance at a dream for many of its citizens. For SKN Real Estate and prospective homeowners, these developments signal a promising era of growth and opportunity in the local real estate market.
