Mortgage Lending

The Meridian Mortgage Corporation lends money to approved parties in the Turks and Caicos Islands and North America.

We offer:

  • Mortgage loans of up to 50% of property value;
  • Loan amortization periods of up to 15 years, allowing you to manage the size of your monthly repayments;
  • Fixed interest rates for up to 3 years, allowing you to budget your monthly repayments accurately;
  • Loan agreement in principal within 48 hours of receiving the completed application form and due diligence requirements;
  • Where we also act as the client's representative during the land registration process, we can usually commit to release mortgage funds within 21 days of closing.

We require:

  • A completed application form;
  • Due diligence evidence for each borrower consisting of:
    • photo ID (in form of a notarized* copy of valid passport or driver's license);
    • proof of address (in form of an original recent utility bill or notarized* copy of valid driver's license where not used as photo ID);
    • bank reference (or letter authorizing Meridian to obtain one) from a bank that you have held an account with for at least 3 years;
    • signed personal net worth statement (a straightforward statement of your assets and existing loans).

*where a client can show the original document to a member of our staff, notarization is not required.

Please Contact Us to obtain our current mortgage interest rates.

Purchase as Individual or Company?
Turks and Caicos law allows property on the Islands to be purchased by individuals and Turks and Caicos Ordinary Companies. Have you considered the advantages of purchasing the property in the name of a Turks and Caicos Ordinary Company as opposed to in your own name?

Advantages include:

  • Asset protection - the property will not form part of your personal assets if you are sued;
  • Confidentiality - your company name (not your own name) will appear on the public land register;
  • Improved re-sale price - when you come to sell the property, you can sell the shares of your company, as opposed to the property itself. Share purchases attract only 8% stamp duty, which may give you a competitive edge over sellers holding property in their own name;
  • Potential tax savings - these will vary depending on your country of residence.

Meridian can normally complete your Turks and Caicos Ordinary Company formation within 48 business hours of receiving your completed Company Application Form. More information about setting up a company may be found on our Company Formation page.

Land Transfer Representation
Meridian has over 12 years experience in representing property purchasers during the land registration process. We work to ensure our clients can relax while their property purchase is registered with Land Registry as quickly and smoothly as possible. Where a property purchase requires mortgage financing, delays during land registration can slow down the release of mortgage funds and delay overall completion of the purchase.

To benefit from our independent advice and detailed local knowledge during your property purchase, please Contact Us.

Contact Details

Meridian Trust Company Limited

Level 2

Le Vele Plaza

PO Box 599

Grace Bay Road

Providenciales

Turks and Caicos Islands,

British West Indies

Telephone: (649) 941-3082

Fax: (649) 941-3223