Bank of Saint Lucia Participates in Home Ownership Day 2010

The Eastern Caribbean Home Mortgage Bank (ECHMB) hosted its eleventh annual Home Ownership Day in Saint Lucia last Saturday at the NIC Conference Centre. Bank of Saint Lucia was on board and participated in the one-day event that sought to give prospective and existing home owners essential advice on buying or building a home. The ECHMB describes the event as ‘a one-stop shop for persons planning to build or buy a home, and care and maintenance thereafter’. Governor of the Eastern Caribbean Central Bank (ECCB), Sir Dwight Venner gave the feature address.

Bank of Saint Lucia’s Assistant General Manager, Ms Joanna Charles, was one of the presenters for the day and she spoke on the topic, ‘Getting Started on Your Credit and Managing Your Mortgage Obligations’. Ms Charles focused on the need to be adequately prepared financially for this major milestone of acquiring one’s own home and gave specific guidelines on how to ensure this. For example, she highlighted saving strategies such as opening and maintaining an account like Bank of Saint Lucia’s Home Start Account that is designed particularly for persons intending to buy or build their own home.

Other presentations on the day included topics such as the legal requirements for mortgages, property valuations, and the planning and approval process by the Development Control Authority (DCA). Representatives from the local financial and real estate sector had information booths set up for persons who attended the activity. The ECHMB hosts Home Ownership Day each year in a different Caribbean island and this was the second time that Saint Lucia was chosen as the venue for the event.

Contact: Corporate Communications
Tel: 457 7259