‘Discussed Ways To Lower Cost Of Mortgages’

November 5, 2018 | 12 Comments

Premier David Burt and newly sworn in Minister of Finance Curtis Dickinson met with HSBC’s outgoing and newly appointed CEOs, Steve Banner and Mark Watkinson, to discuss “ways to lower the cost of mortgages” and “strategies to increase lending to small businesses.”

Premier Burt tweeted the photos below, saying: “Min. of Finance, Curtis Dickinson and I met with HSBC’s outgoing and newly appointed CEOs, Steve Banner and Mark Watkinson, respectively. We discussed ways to lower the cost of mortgages for hardworking Bermudian families and strategies to increase lending to small businesses.”

Premier David Burt Bermuda November 2018 (1)

Premier David Burt Bermuda November 2018 (2)

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Comments (12)

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  1. Politricks says:

    Mortgage rates in Bermuda are actually quote low when compared to the Caribbean and other small island jurisdictions. In some cases, down South, rates are in the double digits.

    So it is not so much the interest rate charged, but rather the cost of properties themselves that make it so expensive here.

    • SayItAintSo says:

      Thanks Mr Banker! Bermuda isn’t the same as the islands down south…. there is no need to be charged the extra 2%
      Banks make money off of us and then pat themselves on the back when making donations etc.

      • Politricks says:

        Not too sure what you are trying to say. But what I stated is the truth.

        It isn’t the mortgage rates that make properties so expensive, it is the price/valuations of the properties themselves that do that.

        If you are looking for rates as low as the US or UK you’re not going to get that as we have no central bank to offer discount rates to the industry.

  2. Real Deal says:

    The Future for Bermuda is to start building under the ocean. the tech is around

  3. 2 Bermudas says:

    Ya ya, cause you’re the first person who thought of this… I’ll believe it when I see it. Till then, keep drinking de titty milk!! Ha ha ha!!

  4. red rose says:

    And …. what was decided?

    • 2 Bermudas says:

      Last time de CEO takes a meeting wif dis gov’t!! Burt probably offered him some titty milk and he said no thank you!! Ha ha ha!! Burt living in Blockchain and crypto world – a world of fiction!!

  5. Excellent, Premier!!
    Proud for you!!

    • wahoo says:

      Mortgages are becoming more affordable with the price of property falling. That is due largely to plp government so your pride is well placed if you look at it simplistically which I think you do.

  6. To REDROSE:
    How IMpatient YOU are.
    WAIT!!

  7. Proven says:

    Hat in hand – really sad! Get your own.

  8. Question says:

    “Hi, can you lend money at uneconomically low rates, just to make us look good?”

    “No, we can’t.”

    “Oh. Ok”.

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