“We’re thrilled to offer our customers fantastic deals on reliable, stylish vehicles this holiday season,” said Shan Mohamed, Managing Director of TAG. “The Season of Giving Sales Event is focused on bringing value to our community, and with CIBC Caribbean as our partner, we’re able to provide even greater savings through competitive financing options.”

During this one-day event, customers can receive up to $2,000 cashback on select purchases and complimentary one-year NAGICO Insurance coverage on eligible vehicles. Featured models include the budget-friendly Hyundai Grand-i10, starting at just $248 per month, and the sleek Changan CS35 Plus for $345 per month. Those seeking a touch of luxury will find enticing incentives on models such as the Hyundai Palisade, Changan UNI-K, Honda CR-V, and Volkswagen Tiguan.

CIBC Caribbean, partnering with TAG, is offering up to 100% financing on car purchases and will waive all loan application fees exclusively for this event. Fabian Devonish, CIBC First Caribbean’s BVI Country Manager, expressed his enthusiasm: “We are excited to join TAG for the second consecutive year and to extend competitive car loan rates to customers. Through our LoanStore, eligible buyers can secure immediate loan approvals, making the car-buying process even smoother.”

To enhance the seasonal spirit, customers pre-approved for financing will be eligible for a CIBC credit card with a waived application fee, an offer valid until January 31, 2025.

Don’t miss the chance to drive into the holidays with unbeatable deals. Join us at the CIBC Caribbean parking lot on November 9 to explore TAG’s extensive selection of vehicles and take advantage of these limited-time offers.

For more information, contact Tortola Auto Group at (284) 494-2600 or visit www.tagbvi.com.

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Representatives from various sectors, including architects, surveyors, contractors, insurers, lawyers, and the Town and Country Planning Department, joined the CIBC Caribbean lending team to share their expertise. The workshop aimed to demystify the complexities of securing and servicing loans for property construction and purchases.

“The whole process of securing and servicing an adequate loan for construction or purchase of a property is intrinsically tied to the survey results, Town and Country Planning approved architectural plans, contractor bids as well as meeting the legal and insurance requirements. We felt it important and useful to share the information with clients interested in building or buying a property to help them better understand how to manage the loan and successfully complete their project,” said Nelson Ramirez, Platinum Banking Manager.

Ramirez emphasised the bank’s commitment to supporting clients, stating, “While the bank will lend up to 95% to $1M plus 65% of the remaining balance on a term of up to 35 years at fixed or variable interest rates on home financing, it is up to the client to ensure that they are able to cover the lending and insurance fees, valuation and appraisal, legal and closing costs, and stamp duty.”

Key industry figures presented various stages of the property acquisition process. These included Mr. Shane Nanton, architect with Bamboo Blueprints, Mr. Oren Hodge, contractor with Progressive Construction, Mr. Greg Adams, Chief Planner at Town & Country Planning, Ms. Jamealya Fahie, Senior Associate at O’Neal Webster, Ms. Myanna Prevost, Operations Supervisor at Alphonso Warner Insurance Agency and Mr. Chris Graham, Director at BCQS.

The workshop allowed attendees to ask questions in an open forum and engage in one-on-one discussions with the presenters. Refreshments were served, fostering a casual atmosphere for networking and further inquiries.

One couple, in the early stages of their construction project, found the workshop particularly beneficial. “We’re in the beginning phase of our construction project and, while we have already secured our loan with the bank, we still have several steps to complete before we’re ready to break ground. This evening has been useful and has alerted us to some of the considerations during architectural planning and construction that we weren’t aware of and of potential pitfalls to avoid,” they said.

Another attendee appreciated the insights on regulatory processes. “I found much of this interesting and appreciated Mr. Adams’ frank explanation of how Town & Country Planning reviews submissions. It was helpful to understand the mandatory requirement of having interim inspections during construction to avoid having to undertake remedial work before a property can be certified as fit for occupancy. His advice to look at how a property owner intends to live in, or use the space, before committing to an architectural plan and construction costs was also invaluable. It’s very easy to get carried away with the concept of a dream home with expensive fit-outs that outstrips the original loan amount agreed.”

The presentations also covered land loan financing and the necessary documentation to secure such financing, providing attendees with a comprehensive overview of the entire property acquisition process.

The CIBC Caribbean’s annual mortgage workshop continues to be a crucial resource for prospective homeowners in the BVI, offering expert guidance and fostering a deeper understanding of the intricacies involved in property development and financing.

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