Mortgage Calculator Barbados

Market overview

The Barbadian mortgage market is concentrated among Republic Bank Barbados, RBC Royal Bank, CIBC FirstCaribbean International Bank and Scotiabank Barbados, with credit unions such as the City of Bridgetown Co-operative Credit Union providing a meaningful secondary channel. The Central Bank of Barbados has held its minimum deposit rate at 2.50% in 2026 and continues to operate the long-standing 2:1 peg to the US dollar, which keeps domestic rates closely tethered to US monetary policy. Demand is buoyed by the Welcome Stamp digital-nomad programme and by ongoing recovery under the Barbados Economic Recovery and Transformation (BERT) plan.

Why 7% is the typical rate

Rates of around 7% reflect the USD-pegged regime: with US Treasury yields elevated in 2026, Barbadian lenders price mortgages a manageable 2–3 points above benchmark.

Tax & regulatory notes

Property transfer tax is 2.5% above a BBD$150,000 threshold under the Property Transfer Tax Act, plus 1% stamp duty under the Stamp Duty Act. Non-residents must register foreign currency inflows with the Central Bank under the Exchange Control Act to ensure future repatriation rights. The Property Transfer Tax (Amendment) Act 2019 and the Land Tax Act govern annual holding costs, with land tax rates banded from 0.1% to 0.75% of improved value.