We use cookies to improve your experience. By continuing, you agree to our Privacy Policy.
Bermuda Government Mortgage Guarantee Programme
Phase 2
In collaboration with the Bermuda Government, BCB is pleased to be the Bank of choice for the Bermuda Government Mortgage Guarantee Programme. The first phase of this programme focused on financing for Bermudian first time home owners, allowing Bermudians to reach their goal of owning "a piece of the rock". We are pleased to announce that we have now moved into Phase 2. The second phase of the programme will continue to focus on financing for Bermudian first time home owners, and will allow public officers to transfer their mortgages from their existing bank to BCB. The details provided below are a guide and all loans are subject to BCB Credit Policies, requirements and approval.
Please allow 2 business days for review of your details, following which a representative will be in touch.
Please allow 2 business days for review of your details, following which a representative will be in touch.
Programme Criteria
The Qualified Borrower(s) of record must:
- Be an individual persons or persons; and
- Have Bermudian status or be a spouse of a Bermudian, if borrowing jointly with their Bermudian spouse;
either
- Not own any Bermuda real property; or
- Be a Public Officer (subject to probation period being successfully completed), having an existing mortgage (or first legal charge) with another licensed Bank in Bermuda.
The Qualified Borrower(s) must have:
- Have at least 10% of purchase price of the property or at least 10% of the cost of the renovations (if only renovations) in cash in a Bermuda bank account.
- Have a property valuation within 3 months prior to purchase.
- Have a property estimate or quote setting out the proposed renovations, cost and an appraisal outlining the completion value within programme limits, should renovations be required.
- Written confirmation from Tax Commissioner that no government fees are outstanding (speak with Relationship Manager).
- Loan to Value ratio and debt service ratio within programme limits.
- Loan secured by way of a first legal mortgage of the property being purchases or transferred (for the full amount of the loan).
Additional Requirements
A loan to a Qualified Borrower of the programme must be:
- For BMD $900,000 or less excluding Fees
- Renovations up to BMD $50,000 may be included with the purchase. If included they must not exceed $900,000 for the total loan.
Interest Rates, Terms & Fees
Qualified Borrowers under the programme will:
- Have a discounted interest rate while the borrower is a participant under the programme:
- Discounted interest rate of BCB Base Rate plus 2%.
- Loan interest rate to revert to standard interest rate when borrower no longer falls under the programme. - Will have a maximum term for a loan under this programme of 360 months (or 30 years)
- The Guarantee under this program will remain for a maximum of 10 years or less depending on alternate terms.
- Fees:
- Discounted Arrangement Fee of 0.75% of the total value of the loan amount. Normal legal fees and stamp duty apply (even if this increases the total loan amount over the BMD$900,00 so long as the base loan amount does not exceed BMD$900,000).
To confirm your eligibility to the program or to explore other financing options the following details are required:
- A completed online Loan Request Form or BCB Personal Financial Statement
- Verification of employment and salary
- Three months of bank and credit card (if applicable) statements
IMPORTANT NOTICE: We will be performing a system maintenance from 9:00am to 12:00pm (AST) on Saturday, 6 June, 2026. Our online banking services will be unavailable during this time. We apologize for any inconvenience this may cause.
Bermuda Government Mortgage Guarantee Programme
Phase 2
In collaboration with the Bermuda Government, BCB is pleased to be the Bank of choice for the Bermuda Government Mortgage Guarantee Programme. The first phase of this programme focused on financing for Bermudian first time home owners, allowing Bermudians to reach their goal of owning "a piece of the rock". We are pleased to announce that we have now moved into Phase 2. The second phase of the programme will continue to focus on financing for Bermudian first time home owners, and will allow public officers to transfer their mortgages from their existing bank to BCB. The details provided below are a guide and all loans are subject to BCB Credit Policies, requirements and approval.
Please allow 2 business days for review of your details, following which a representative will be in touch.
Please allow 2 business days for review of your details, following which a representative will be in touch.
Programme Criteria
The Qualified Borrower(s) of record must:
- Be an individual persons or persons; and
- Have Bermudian status or be a spouse of a Bermudian, if borrowing jointly with their Bermudian spouse;
either
- Not own any Bermuda real property; or
- Be a Public Officer (subject to probation period being successfully completed), having an existing mortgage (or first legal charge) with another licensed Bank in Bermuda.
The Qualified Borrower(s) must have:
- Have at least 10% of purchase price of the property or at least 10% of the cost of the renovations (if only renovations) in cash in a Bermuda bank account.
- Have a property valuation within 3 months prior to purchase.
- Have a property estimate or quote setting out the proposed renovations, cost and an appraisal outlining the completion value within programme limits, should renovations be required.
- Written confirmation from Tax Commissioner that no government fees are outstanding (speak with Relationship Manager).
- Loan to Value ratio and debt service ratio within programme limits.
- Loan secured by way of a first legal mortgage of the property being purchases or transferred (for the full amount of the loan).
Additional Requirements
A loan to a Qualified Borrower of the programme must be:
- For BMD $900,000 or less excluding Fees
- Renovations up to BMD $50,000 may be included with the purchase. If included they must not exceed $900,000 for the total loan.
Interest Rates, Terms & Fees
Qualified Borrowers under the programme will:
- Have a discounted interest rate while the borrower is a participant under the programme:
- Discounted interest rate of BCB Base Rate plus 2%.
- Loan interest rate to revert to standard interest rate when borrower no longer falls under the programme. - Will have a maximum term for a loan under this programme of 360 months (or 30 years)
- The Guarantee under this program will remain for a maximum of 10 years or less depending on alternate terms.
- Fees:
- Discounted Arrangement Fee of 0.75% of the total value of the loan amount. Normal legal fees and stamp duty apply (even if this increases the total loan amount over the BMD$900,00 so long as the base loan amount does not exceed BMD$900,000).
To confirm your eligibility to the program or to explore other financing options the following details are required:
- A completed online Loan Request Form or BCB Personal Financial Statement
- Verification of employment and salary
- Three months of bank and credit card (if applicable) statements
Consistently Available. Smooth and Fast Remote Onboarding. A Seamless Transition.
Of course, we would say all of the above – and more – about our services. Except we didn’t.
Open a Business AccountInstead, what you’ve just read is a mere snapshot of testimonials from our customers. If you’re also actively searching for a digital first, offshore bank account that works with you and for you, you’ve come to the right place.
Offering the convenience of dedicated relationship management, RESTful APIs, and a tonne of digital capability, ours is a human-led account that can be accessed from your desk, anywhere in the world.
The dominant bank for digital assets, we boast a great many benefits. Including the fact you can open your Bermuda Commercial Bank account the same day – and in minutes.
Swift. Secure. Seamless.
Headquartered in Hamilton, Bermuda since the late 60s, BCB is a specialist
international bank operating in a jurisdiction governed by English common law and supervised by the Bermuda Monetary Authority.
Individuals
Corporate treasuries
Family offices
Fintech businesses
Why Choose Us?
BCB combines Bermuda’s trusted financial ecosystem with modern digital
infrastructure and relationship-led banking for international clients.
Trusted Bermuda Jurisdiction
A self-governing jurisdiction with a long-standing reputation for regulatory excellence, Bermuda is home to the Bermuda Monetary Authority (Authority or BMA) the Bermuda Stock Exchange (BSX). It’s also the location for some of the world’s largest (re)insurers, and the island offers a robust environment for international business.
Global Business Environment
Bermuda’s independent legal system, collaborative public-private model, and adherence to global standards in compliance and transparency, set you up for success. A British Overseas Territory in the North Atlantic, Bermuda is well placed to offer seamless access to global markets too.
Developer Friendly
Delivering institutional depth, modern infrastructure and a globally connected financial ecosystem, we have the most complete API suite and developer portal of any offshore bank. When we say we’re developer-friendly, we mean it! We even have an established MCP protocol, allowing AI agents to operate our bank accounts.
Partnership-First Approach
We work closely with every client to make sure the account fits their needs — and we’re honest when we’re not the right fit.
Meet Our Executive Team
Andy Mielczarek
Executive Chair and CEO
.webp)
Martin Brown
Chief Risk Officer
.webp)
Hugo Rogers
Chief Commercial Officer
Our Board
Craig Bridgewater
Director
Richard Crook
Director
Gregory Gilman
Director
Chris Maybury
Director
Keith Stock
Director
Jason Woody
Director
Here’s How We Continue to Work Hard for You…
Institutional Banking & Treasury
Multi-currency accounts, international wires, FX management, and SWIFT network access – benefit from everything a corporate treasury needs to operate across borders.
Custody & Portfolio Structures
Discover global securities custody for equities, bonds, funds, precious metals, and commodities, with the discretion that complex holding structures require, and the operational depth to support them.
Developer-native Banking
RESTful APIs, virtual accounts, MCP interface, and sandbox environments; we believe that we’re the only bank in the world where AI agents can manage bank accounts directly, built for fintech and crypto businesses that need infrastructure.
Open in Days, Not Months
Choose Bermuda Commercial Bank for international, offshore banking and benefit from no delays and zero bureaucracy.
We Handle Complexity
Our team reviews your application and will be in touch directly if we need anything further. We’re experienced at handling complex structures, which means you can trust us to move efficiently through the process.
Your Account is Live
Standard accounts are typically open within a few business days. Your relationship manager will walk you through the platform and make sure everything is set up exactly as you need it.
Ready to open your account?
Complete our digital application in minutes. Tell us about your business, your structure, and what you need from a banking partner. There’s no branch visit required and you can access and use your account quicker than you think.
.webp)
A closer look at your options…
Business Current Account
A specialised checking account tailored for corporate and institutional clients, our Business Current Account offers efficient management of online payments, direct deposits, and routine financial transactions.
International Wires & FX Rates
Our membership of the SWIFT network enables seamless straight-through processing, ensuring rapid and precise international fund transfers.
Local Bank & Internal Account Transfers
Complete immediate, cost-free transfers within Bermuda's Automated Clearing House network or between your own BCB accounts.
Visa Gold Business Credit Card
Offering adaptable credit limits and comprehensive security measures, our Visa Gold Business Credit Card is designed to accommodate extensive travel and business expenditure.
Multi-Currency Accounts
Manage multiple currencies within a single interface to effectively mitigate foreign exchange risks.
Multiple Currencies Supported
We support 11 currencies worldwide, including US dollars, Canadian dollars, Great British Pounds, Euros, and more.
Keen to Apply For a Business Account?
Start your applicationOur business accounts offer:
Commercial lending
Term and deposit
Custody and traiding services
…and more. Our platform also provides RESTful APIs, and sandbox environments, enabling real-time data exchange and seamless payment processing.
