Our Mortgages

We offer mortgages for properties in Gibraltar which you intend to use for residential purposes. We have competitive rates and pride ourselves on our professional and efficient process. Please contact us for more information.

What Types Of Mortgages Do We Offer?

Turicum Private Bank offers tracker and variable rate mortgage loans.

Tracker rate mortgages follow the Bank of England base rate. This means that if the Bank of England base rate changes, your mortgage payments will change. This will be for a specified period as agreed at the start of your mortgage. After that period, your rate will revert to the Turicum Private Bank Standard Variable Rate.

The Standard Variable Rate mortgage is set by the Bank and is not directly linked to any base rate.

Should there be a change to the interest rate charged to your mortgage, you will be notified in writing (by letter or email).

We offer equity release loans – meaning, if you want some additional funds for home improvements, a holiday or to consolidate other debts we can help you.

The loan type can be either amortising or serial.

An amortised mortgage means that (unless the Bank of England base rate changes) your monthly repayments will stay the same. The capital and interest elements of your payment change over the term of your mortgage, with the payment being made up of mostly interest at the start and mostly capital at the end.

A serial mortgage means that you pay the same amount of capital every time you make a payment. The interest is then calculated on the decreasing capital amount remaining. This means your regular repayments will change slightly as the capital decreases.

The differences to you when deciding whether to have an amortised or serial mortgage loan can be seen in the example table below.

Example

  Amortised Mortgage Loan Serial Mortgage Loan
Loan To Value 80% 80%
Amount Borrowed £250,000 £250,000
Term 25 Years 25 Years
Other Costs    
 Arrangement Fee £625 £625
 Valuation Fee* £350 £350
 Legal Fees* £1,500 £1,500
Borrowing Rate 3.1%** (variable) 3.1%** (variable)
APRC 3.2% 3.2%
Initial Repayment Amount £1,198.57 £1,479.17
Total Interest Payable £112,046.00 £99,672.99
Total Amount Repayable £362,046.00 £349,672.99

The above table is for guidance only and doesn’t include any potential changes to interest rates.

*These fees are estimates and are not payable to the Bank.
** This rate is for guidance purposes only and includes the Bank of England base rate.

We offer Capital Repayment plus Interest or Interest Only Mortgage Loans (subject to criteria).
The property must be in Gibraltar and for residential use by you or a member of your immediate family.

Please contact us to receive a quote based on your personal circumstances.

Think carefully about securing other debts against your home
Your home may be repossessed if you do not keep up the repayments on your mortgage.

Mortgage Calculator
Mortgage Calculator

Find out using our calculator how much we may be able to lend to you based on your circumstances.

Our Services
Our Services

What you can expect from us and what you need to provide to us when applying for a mortgage.

Payment Difficulties
Payment Difficulties

How we can help you should your circumstances change.