Financing a Vacation homeFunding a holiday home
Purchasing services: Insight into the real estate market
Are you looking for financing to finance the acquisition of properties in the Caribbean? We are a provider of residential and non-residential Mortgages for those who wish to make investments in properties in certain countries of the world. Looking for long-term financing to buy your dream home in the Caribbean? Whilst you may have learnt that non-residents are not able to obtain a home loan to buy a home in the caribbean, there are credit institutes that specialise in foreign home loans and provide financing for non-resident purchasers.
One of our partners - a prestigious large multinational bank group with many years of expertise in the Algerian subprime markets - is a credit bureau that offers loans to foreigners who invest in property in the Cauibbean. When you ask yourself: "Am I entitled to a hypothec from this multinational credit institution?" or "How much can I lend?
What island, country and jurisdiction have Caribbean loans available?
Currently, our partners offer foreigners the possibility to obtain real estate in the following locations: It may also be possible in some cases to request a home loan for the sale of real estate in the Eastern Caribbean, including: Certain non-resident jurisdictions may request funding for the acquisition of a second home in the Caribbean.
Just as with any mortgages contract, claims are submitted on a standing basis and claimants must fulfil certain actuarial thresholds in terms of earnings, assets and creditworthiness. Claimants can request a home loan to buy a second home or holiday home in certain countries of the Caribbean. Please note that the home loan is not available in all states. It may also be possible in certain cases to request financing for the construction or improvement of a second home or holiday home in the caribbean.
Hypothecaries are available to fund the acquisition of real estate or the building or refurbishment of real estate. What can an applicant lend for a home loan? Loans can be written off for up to 15 years. What are the hypothecation premiums and mortage costs? Depending on the respective countries, hypothecary interest rate and fee range from 0.50% of the nominal amount up to 2%.
Furthermore, borrower should be mindful of other charges, as well as the cost of closure of immovable properties, such as attorneys' expenses, appraisal charges and the lender's obligation/management charges. More information can be found in the following articles about American mortgages from our journal The Caribbean Property Investor - Carebean Mortgages: