Housing Finance Policy

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    A. Legal and Regulatory Framework

    A.1 Legal and Regulatory Framework
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Basis of the legal system: Civil, Common, Islamic, Other? (Describe)Common lawCommon lawCommon lawA.1.1
    Are there specific laws that deal with mortgages? YesYesYesA.1.2
    Registration/Transfer of titles:A.1.3
    Typical number of days needed for the transfer of title122122122
    WDI
    		A.1.3.4
    Is there specialized legislation covering:A.1.9
    B. Housing Finance Subsidies
    B.1 Subsidies to Housing Finance Institutions
    B.2 Subsidies to Households
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Are there subsidies to households on housing finance?YesYesYesB.2.1
    Interest rate subsidies by special government fundsYesYesYesB.2.1.1
    Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
    C. Taxation
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    What taxes apply to Residential Real Estate?C.1
    Tax on property (home-owners) Yes  C.1.1
    Property transaction taxes (purchase/selling)Yes  C.1.2
    Tax on capital gains on property No  C.1.5
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    Notes: Insurance companies with mortgage lending arms "borrow" from their parent company, i.e. they use their own funds.
    Notes: Insurance companies with mortgage lending arms "borrow" from their parent company, i.e. they use their own funds.
    Notes: Insurance companies with mortgage lending arms "borrow" from their parent company, i.e. they use their own funds.
    Notes: Insurance companies with mortgage lending arms "borrow" from their parent company, i.e. they use their own funds.
    Notes: National percentage
    Notes: Requires that borrowers have mortgage indemnity insurance.
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    Notes: The Bahamas Mortgage Corporation is a vehicle for the Ministry of Housing, which is funded through the government (taxes, bond offerings, etc.).
    Notes: The Bahamas Mortgage Corporation is a vehicle for the Ministry of Housing, which is funded through the government (taxes, bond offerings, etc.).
    Notes: The Bahamas Mortgage Corporation is a vehicle for the Ministry of Housing, which is funded through the government (taxes, bond offerings, etc.).
    Notes: The Bahamas Mortgage Corporation is a vehicle for the Ministry of Housing, which is funded through the government (taxes, bond offerings, etc.).