Dear Editor,
When I heard Prime Minister Gaston Browne call on banks to increase mortgage lending during his Budget Presentation, I felt a wave of relief and hope.
His words brought back memories of my own frustrating and humbling experiences trying to secure a mortgage.
For years, I’ve been paying $4,000 a month in rent.
That’s 20 years of payments—enough to have bought my own home several times over. But each time I approached the bank, the process felt like I was begging for something out of reach.
Securing an appointment alone was a battle, with long waits and endless back-and-forth just to sit down with a loans officer.
When I finally did, the focus seemed to be more on selling me a car loan or a credit card rather than helping me own a home.
The system is discouraging and disheartening. I’ve always met my financial obligations, but that never seemed to matter.
The equity requirements and the hoops you have to jump through made it feel like homeownership was only for the privileged few.
The Prime Minister’s proposal to collaborate with the State Insurance Corporation to reduce equity requirements gives me hope that things might finally change.
It’s a step in the right direction to make homeownership possible for people like me who are ready and willing to invest in our future.
Banks need to recognize that a mortgage is not just a loan—it’s a lifeline for families trying to create stability and wealth. The emphasis on car loans and credit cards has overshadowed the real needs of the people.
We need financial institutions to shift their priorities and see the bigger picture: that homeownership builds communities, strengthens families, and drives national progress.
I urge banks to take the Prime Minister’s appeal seriously. It’s time for them to play a more active role in making homeownership a reality for more citizens.
After all, if we can afford to pay thousands in rent, we can certainly afford to invest in our own homes—with a little trust and support from our financial institutions.
Sincerely,
MORGAN
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
I fully agree. Homeownership is essential. The financial institutions should be given a mandate to assist more people in getting their own home.
Agreed!!
Well said!!
Very well said. It always baffles me why do these banks rather push a no deposit car loan on the people rather than working with chapa or housing to enable people secure a piece of land or a house. Car loans here and there all around for Christmas. Yet still the prices of these cars can secure you a 2 bedroom at housing?
It’s simple: Kick backs (ins) & commission.
Comments are closed.