International Mortgage News

Brief updadte on USA and Caribbean Lending:

Despite difficult market conditions there are still excellent rates available for mortgage lending for non residents buying in the USA and Caribbean.

Depending on the State/Island, mortgages can still be applied for at up to seventy per-cent of the property value.

Please note that in the USA, typical bank fees have increased dramatically for non-residents purchasing property.

Details correct at 16/06/09

Individuals must demonstrate adequate net asset value and disposable income to service the loan.

Want to find out more information, please contact us via our website: www.international-mortgage-broker.com

www.international-mortgage-broker.com and IMB Financial Solutions are trading names of Julian Myles Fidler

Your home or foreign property may be repossessed if you do not keep up repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.

Mortgages for buying property in the Caribbean

Most brokers only offer mortgages from local Caribbean banks, which restricts the level of deposit required and the rates available.

Whether for an investment or a holiday home, this could be the perfect opportunity. We offer mortgages on Caribbean property from 75% of the value, 25% Deposit ONLY required.

Private Bank Options: This route is for High Net Worth clients looking to borrow a minimum of $500,000, with no maximum. We currently cover the following areas: Bahamas, Barbados, Bermuda, St. Lucia & Antigua. Typically rates are from 2.25% over US Libor with a minimum requirement of a 25% deposit required. Lending can be arranged in all major currencies.

Local Bank Options: For loans that don’t fit the above criteria, we can still help. We work with all the local banks across the Caribbean.

Rates tend to be slightly higher, circa 3% above US Libor

A minimum 30% deposit is required on property in Bermuda, Bahamas, Barbados, Belize, British Virgin, Cayman, Jamaica, St. Lucia, Turks & Caicos.

A minimum 40% deposit is required for property in Anguilla, Antigua, Nevis, St. Kitts, St. Vincent and Tobago.

Individuals must demonstrate adequate net asset value and disposable income to service the loan. Rental income on the property can be included in this calculation.

Want to find out more information, please contact us via our website: www.international-mortgage-broker.com

www.international-mortgage-broker.com and IMB Financial Solutions are trading names of Julian Myles Fidler

Your home or foreign property may be repossessed if you do not keep up repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.