TTMB today officially launched three groundbreaking mortgage products at a breakfast event held in the La Boucan Room, Hilton Trinidad & Conference Center, under the theme:

Own Your Future: Expanding the Mortgage Landscape with the tagline: ‘Innovative solutions, inclusive opportunities, trusted for generations.’ The launch brought together suppliers, developers, real estate agents, brokers, directors, and members of the media to celebrate this milestone in the organisation’s journey.

In her Opening Remarks, Chairman Judy Kalloo emphasized the strategic benefits of the recent merger, noting that it has expanded the mortgage landscape and strengthened TTMB’s role in driving economic growth. Acting CEO Brent Mc Fee welcomed guests by underscoring TTMB’s core values of Inclusivity, Care, Innovation, Excellence, and Trust, values reflected in each of the new products.

The three products unveiled were:

• PMP – Personalised Mortgage Pricing: is not a product, but a solution designed to tailor your mortgage rate to reflect who you are and what you have achieved, not some market average. With PMP, we now price mortgage interest rates based on individual customer risk, rather than applying the same rate to everyone. Mortgages will be priced based on factors including repayment history, job tenure and net worth. In other words, your mortgage rate is based on a combination of:
• Your Credit Score
• Your Financial Profile and
• Property Factors

These factors are combined into an overall risk score, which determines your pricing within the interest band from 5.00% to 7.00%

• OMG – Own Make Grow:

Own your home               Make more from your money          Grow towards your goals

OMG connects home ownership and investment so you can grow faster, smarter and with confidence. One decision. Multiple benefits.

There are 3 OMG Options:

Option 1 – Standard OMG Mortgage: Any individual purchasing a property within a development financed by Home Mortgage Bank qualifies for a preferential rate of 4.75% per annum.

Option 2 – OMG Mortgage Plus Investment: Any individual purchasing a property within an HMB-financed development, who also invests in HMB’s Mortgage Participation Fund (MPF) or Samaan Tree Fund (STF), enjoys a further rate reductions. Minimum investment: $5,000. Monthly contribution from $250. The more you invest, the more you save

Option 3 – Open Market Mortgage with Investment: Any individual obtaining open market mortgage financing, who invests in the MPF or STF (minimum investment $5,000, minimum monthly contribution $500), qualifies for a preferential rate of 4.95%. Rates are reviewed annually.

To lay the foundation for the next product: In December 2022, TTMB secured funding through a social bond with a gender focus from IDB Invest for our mortgage portfolio, marking TTMB’s first thematic issuance and only the second of its kind in Trinidad and Tobago. The bond, aligned with the International Capital Market Association’s Social Bond Principles, expand our mortgage portfolio with a focus on middle and lower middle-income families, with special emphasis on women and women-led households. With the support of IDB Invest, this initiative advances our ESG agenda and aligns with the United Nations Sustainable Development Goals (SDGs). TTMB was awarded Social Bond of the Year – Deal of the Year for Latin America, at the prestigious Global Banking and Markets (GBM) Awards, earlier this year.

As part of the facility conditions, TTMB committed to embark on the design of a Gender, Diversity and Inclusion (GDI) strategy to better serve the female segment of our customer base. Among the actions of the GDI strategy included becoming a registered signatory with The Women’s Empowerment Principles (WEPs) are a set of Principles offering guidance to business on how to advance gender equality and women’s empowerment in the workplace, marketplace and community. Established by UN Women and UN Global Compact, the WEPs are informed by international labour and human rights standards and grounded in the recognition that businesses have a stake in, and a responsibility for, gender equality and women’s empowerment.

Approval as a WEP signatory occurred on August 14, 2024. TTMB is now one of four companies that are WEPs registered locally. This is a major milestone in our GDI actions to become a more gender diverse and inclusive organization and underscores our ongoing mission to empower citizens, strengthen communities, and ensure that every family has the opportunity to own their future and is a testament to the dedication, innovation, and teamwork of every staff member of TTMB.

The third product: SHE – Secured Homeownership for Every generation, is a multigenerational mortgage created to support female-led households and the families they care for.

• SHE allows for Up to two family members as co borrowers, including: adult children (female or male), mothers, sisters, nieces. Key mortgage features:
  • Up to 40-year loan term
  • Generational rollover option
  • Down payment from as low as 5%
  • Reduced administrative fee – 0.5%
  • Fixed interest rate for the first five years
  • Special pricing considerations for female led households
  • A unique optional feature of the product is to allow for a grace period of up to three months in a calendar year for maternity, caregiving or hardship.

Together, these products embody TTMB’s mission to provide innovative, customer‑focused solutions that foster financial empowerment and national progress. They reflect the organisation’s commitment to expanding access to homeownership, fueling economic growth, and building trust through transparency and reliability.

With these products now introduced to the market, TTMB reaffirms its commitment to helping citizens Own their future through secure, innovative, and inclusive mortgage solutions.