The Housing Finance System

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    A. Primary Housing Finance Market

    A.1 Industry Structure and Performance
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Types of originating lenders/market share:A.1.2
    Universal/ commercial banks71.49% of total70.88% of total70.36% of totalA.1.2.1
    Other depository institutions (savings and loans/mutual savings and credit institutions)28.51% of total29.12% of total29.64% of totalA.1.2.2
    Are there (quasi) public mortgage lenders:Yes  A.1.4
    Non-depository financial institutions specialized in housing financeyes  A.1.4.3
    Level of Non-Performing Mortgage Loans (90 days or more past due):A.1.6
    as a % of outstanding loan amount10.4%12.2% 
    Central Bank of Barbados - Financial Stability Report 2015
    		A.1.6.2
    Average 1997-2007 A.1.7
    as a % of outstanding loan amount 10.4%12.2% A.1.7.2
    A.2 Size of Mortgage Finance Sector
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Total amount of home mortgage loans outstanding at the end of year in millions of USD:1,698.94 USD (millions)1,691.18 USD (millions)1,689.46 USD (millions)A.2.1
    Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)38.51%38.85%39.65%A.2.1.1
    and as % of all credits outstanding62.59%62.8%59.84%A.2.1.2
    A.3 Housing Finance Products
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Mortgage products as % of all mortgages (approx.) in local currency:A.3.1
    Most prevalent type of foreign currency mortgage used:A.3.3
    Most frequent interest rates on fully amortizing:A.3.4
    Typical lender fees associated with mortgage origination: A.3.6
    Typical third party fees associated with mortgage origination:A.3.7
    Loan-to-Value (LTV) on first mortgage: A.3.8
    Maximum LTV100  A.3.8.1
    Typical LTV at origination95 95A.3.8.2
    Maximum term over which pmt is calculated? 35 years  A.3.9
    Mortgage pmt-to-income ratio A.3.10
    Maximum pmt-to-income ratio (Individual income)40%  A.3.10.2
    Typical pmt-to-income ratio (HH income)  33%
    Housing Finance and Housing Subsidies in Barbados Report by Marja Hoek-Smit, Douglas B. Diamond and Claude Bovet
    		A.3.10.3
    A.4 Lending and Servicing Process
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Which institutions define underwriting rules? A.4.2
    Central Bank/Ministry of FinanceNoNoNoA.4.2.1
    A.5 Credit Risk Assessment
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Do credit bureaus exist? NoNoNoA.5.2
    Is mortgage default insurance available?Yes  A.5.3
    B. Funding Sources for Mortgages and the Secondary Mortgage Market
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    What are the main funding sources for mortgages?B.1
    Retail funding (deposits/other)primaryprimaryprimaryB.1.1
    Wholesale funding: loans from other banks or corporationssecondarysecondarysecondaryB.1.2
    Other tertiarytertiarytertiaryB.1.5
    C. Housing Microfinance
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Types of lenders operating in the housing micro-finance (HMF) sector:C.2
    Level of NPLs (>90 days past due) in HMFC.4
    back to top | Country Data:
    Notes: As of Q2 2015.
    Notes: Barbados National Housing Corporation provides government subsidized housing loans for low-income borrowers.
    Notes: Barbados National Housing Corporation provides government subsidized housing loans for low-income borrowers.
    Notes: Barbados National Housing Corporation provides government subsidized housing loans for low-income borrowers.
    Notes: Barbados National Housing Corporation provides government subsidized housing loans for low-income borrowers.
    Notes: Barbados National Housing Corporation provides government subsidized housing loans for low-income borrowers.
    Notes: Barbados National Housing Corporation provides government subsidized housing loans for low-income borrowers.
    Notes: Barbados National Housing Corporation provides government subsidized housing loans for low-income borrowers.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Data from Commercial Banks, Non-Banking Financial Institutions and Credit Unions. Data not available for National Housing Corporation, which provides affordable housing loans.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Housing Credit Fund operates as a second tier mortgage market wholesaler and provide funds to financial institutions which in turn on-lend to individual borrowers.
    Notes: Median value from leading commercial banks.
    Notes: No underwriting provisions in "credit risk management" section of bank supervision.
    Notes: No underwriting provisions in "credit risk management" section of bank supervision.
    Notes: No underwriting provisions in "credit risk management" section of bank supervision.
    Notes: No underwriting provisions in "credit risk management" section of bank supervision.
    Notes: The National Housing Corporation (NHC) primarily works to build housing projects in various regions of Barbados. They also offer more affordable mortgage options for citizens that qualify for this government housing. Outstanding loan balances by the NHC are negligible in size and are not reported by the central bank.
    Notes: This number reflects non-performing mortgage loans as a percentage of all mortgage loans for commercial banks, which issue the majority of mortgage loans in Barbados.
    Notes: This number reflects non-performing mortgage loans as a percentage of all mortgage loans for commercial banks, which issue the majority of mortgage loans in Barbados.
    Notes: This number reflects non-performing mortgage loans as a percentage of all mortgage loans for commercial banks, which issue the majority of mortgage loans in Barbados.
    Notes: This number reflects non-performing mortgage loans as a percentage of all mortgage loans for commercial banks, which issue the majority of mortgage loans in Barbados.
    Notes: Those with loans over 80% LTV need to pay for PMI (private mortgage insurance) for any mortgages from the NHC.
    Notes: Up to such value