RBC Royal Bank hosts mortgage seminar for prospective homeowners

Attended by scores of RBC clients, the seminar featured a panel of experts who spoke about the entire process to be followed by applicants, especially first-timers, seeking residential mortgages.

In addition, two RBC mortgage specialists walked the clients through a simulated mortgage application, giving an assurance that “we are prepared to meet you almost anywhere” to help them own their homes.

Prospective homeowners were pleasantly surprised when a reduced mortgage rate was offered to clients who made formal applications on the day of the seminar and who eventually qualified for the mortgage.

A young couple from Manzanilla was excited about the process outlined by the panelists and RBC mortgage professionals.

“We have already started a building where we live but we need financing to complete it.

The professional advice and strategies we have heard today will make it a lot easier and convenient for us to go through the application process.

We believe we are finally on the right track to owning our dream home,” said the enthusiastic client, as his wife nodded in agreement.

RBC Managing Director, Daryl White, who opened the seminar, told the audience that there was a demand for some 50,000 houses in Trinidad and Tobago, noting that owning a home was a fantastic achievement for everyone.

“Owning a home is a dream that we all share. We all wish to accomplish this someday but that someday can be right here today as we make home ownership easy and convenient. A home is security.

It is an asset for education, acquiring other property and is, perhaps, the single largest investment you’ll ever make in your life. At RBC, we want to take you through this sometimes daunting process as a virtual stepping- stone toward owning your own home. In reality, this process is all about you!” White told the prospective homeowners.

White informed the audience that while the interest rate for housing hovered around five per cent today, years ago it was as high as 14 per cent.

Attorney-at-law Sonji Pierre-Chase, representing law firm Johnson, Camacho & Singh, detailed the legal process required for prospective homeowners applying for bank mortgages.

“Owning a home is the keystone to wealth.

It is the culmination of years of hard work, sweat and blood. But very often, we invest very little time and diligence in doing this transaction. You should get expert advice from people who are qualified in their respective fields. Retain the services of reputable service practitioners at all times. Protect yourself!” Pierre-Chase stressed.

Other presenters included Mark Farrell, of land surveyors and evaluators Mark Farrell & Company; and Asha Shepherd, Town Planner, Town and Country Division, Ministry of Planning and Development.

They outlined the requirements and documentation needed for approval from various agencies.

As Mobile Mortgage Specialists, Rodney Patterson and Tige Gilalta, pointed out, convenience is a major advantage for clients choosing the RBC option. “We are ready to meet you almost anywhere, at your convenience, whether in the morning or the evening, at your work place, or even on a building site. We can arrange to meet you at the time and place that suits you,” Patterson added.

The Independence Square seminar was the latest in a series of seminars aimed at taking RBC’s clients through the bank’s residential mortgage application process under the welcoming theme “We will meet you anywhere.” Similar sessions were held at the Trincity, Chaguanas and Gulf City (La Romaine) branches. It was the second time for Independence Square.