Growth & Jobs | JN Bank introduces new mortgage referral programme

JN Bank has introduced its Tell-a-Friend Mortgage Referral Programme, which rewards eligible individuals who refer friends and family members who successfully secure a mortgage with the bank and which also encourages Jamaicans to strengthen their savings habits amid rising living costs.

Dave Hanson, chief product officer for mortgages at JN Bank, explained that the initiative promotes financial resilience by giving people alternative means to earn money that can be directed towards their financial goals even for those who are not yet thinking about buying a home.

“The initiative aligns with our broader efforts to encourage greater financial inclusion and stronger savings habits among Jamaicans,” he said. “Whether or not you’re in the market for a home today, we’re giving you an opportunity to earn an incentive that can be put towards securing your financial future. It can help you build your deposit, cover closing costs, or strengthen your savings until you’re ready to purchase a home.”

Successful referrers will earn 0.25 per cent of the value of the mortgage up to a maximum of J$100,000 per referral. Hanson pointed out that while the reward provides an immediate financial benefit, its greatest value lies in how recipients choose to use it.

“Think of the reward as more than extra spending money. It’s another way we’re supporting you on your financial journey,” he said.

The programme is open to everyone, including existing JN Bank members and non-customers. To participate, individuals simply visit the JN Bank website and submit a referral through the online form. Once the referral is received, the bank contacts the prospective borrower to begin the mortgage application process. If the mortgage is approved and subsequently disbursed, the referrer becomes eligible to receive a reward.

“You do not need to be an initial member to make a referral, but the referral must be a new prospective mortgage customer who does not already have an active mortgage application with JN Bank,” he emphasised. “Once the mortgage has been disbursed, the reward will be processed and credited to the referrer’s account within 30 business days.”

Referrers will receive notifications throughout the process, including confirmation that the referee’s application has been received and when rewards are being processed.

Hanson said to protect the integrity of the programme, JN Bank does not permit self-referrals, duplicate referrals, the submission of false or misleading information, or referrals generated through unauthorised commercial arrangements.

“Trust and responsible participation are at the heart of this initiative, and JN Bank is committed to safeguarding personal information in accordance with applicable data-protection laws and our Privacy Policy. We also encourage referrers to obtain the prospective borrower’s consent before sharing their contact details with us.”

Hanson noted that prospective homeowners may qualify for special benefits including promotional mortgage rates as low as 8.75 per cent, subject to credit approval and applicable terms and conditions.

“We’re very much open to negotiating,” he stressed while pointing out that the bank offers up to 100 per cent mortgage financing and up to 40 years to repay. “The success metric for us is not just to present you with a mortgage product but also to present you with a mortgage experience that is fast, reliable, and customer-focused. Along with the product, we’re giving you an ecosystem that supports your entire journey,” he said.