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Mortgage Requirements

Terms of Loan

  • Homes up to 30 years
  • Land up to 10 years

Finance Provided

  • Up to 85% financing
  • Difference to be provided by applicant (must be evidenced)

Competitive Interest Rates on Mortgage

  • Residential
  • Commercial
  • Land

Borrowers Paid Up Shares

Required to purchase $500 share and be a member for the term of the mortgage.

Life Insurance

Life and/or Term Insurance on the life of the borrower for no less than the amount borrowed must be assigned.

Monthly Installment

Payable by the last day of every month.

Qualifying Income

Life and/or Term Insurance on the life of the borrower for no less than the amount borrowed must be assigned.

Charges & Fees

TBLA charges 0.5% – 1% of the amount to be borrowed. Legal Fees to be borne by mortgagor


The property must be valued by one of the Valuers on the Association’s panel.

Security to be Obtained

Leasehold property ONLY – The unexpired portion of the lease must be 20 years or more. The building must be insured under a House Owner’s Comprehensive Insurance against all risks up to the full insurable value and the mortgagee’s interest noted thereon. The insurance can be effected through the Associations’ Insurance Broker.

Bridging Finance

For construction ONLY: Requests for drawdowns must be in writing with a breakdown of all that is required for the funds. A Quantity Surveyor report must be provided from one of the Quantity Surveyors on the Association’s panel. Advances will be charged at TBLA’s current bridging rate.


If there is more than one applicant all the personal information required above must be provided for each person.


  • Registered copy of freehold/leasehold Deed or Instrument
  • Evidence of rates and taxes paid to date
  • Job Letter – salary, allowances, length of service
  • Recent pay slip
  • Copy of two forms of identification ( ID / DP / PP )
  • Personal Financial Statement
  • WASA Clearance Certificate
  • Purchase of Mortgagors Shares
  • Payment of all Fees and Charges
  • Coverage of House owners Insurance
  • Assignment of Life/Term Insurance for an amount not less than the mortgage


  • Certified Financial Statements
  • Projected Cash Flow for 2 - 3 years
  • Memorandum of Incorporation and By-Laws (Company)
  • Last Annual Return filed at the Registrar of Companies
  • Bank Statements


  • Signed Agreement to purchase and evidence of deposit slip/receipt
  • Signed Sales Agreement
  • Current Valuation


  • Estimated Valuation before construction
  • Approved Building Plans
  • Land development approval from relevant authorities
  • Signed Quantity Surveyor's report (from the Association's panel)
  • Signed Builders Estimate
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TBLA Mortgage Calculator

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