Caribbean Property More Accessible with Expanded Mortgage Services

Caribbean Land and Property

2008-09-22 17:08:34 - Mortgages now available for property in 19 Caribbean countries.

The Caribbean property market is a favourite for investors and expatriates wanting to relocate or purchase a second home. These investments can often be difficult without securing a mortgage and, since most lenders in the chosen country will not lend to non-nationals or do so with very high interest rates, prospective buyers are being turned away. Caribbean Land and Property now offer mortgages in 19 Caribbean countries to assist those wanting to purchase a Caribbean property.

The mortgages are available to Caribbean nationals, resident expatriates and foreign buyers. The mortgage service is not exclusive to those clients buying properties through Caribbean Land and Property but is open to any qualifying client. Applications can be made for a mortgage of up to 75% of the valuation of the Caribbean home or land purchase and interest rates are competitive.

Manager of Caribbean Land and Property Financial Services, Katie Sosna, says 'This service should help a lot of people who want to get on the property ladder in the Caribbean. We aim to make the process as simple and speedy as possible. Those interested in the mortgage service should contact us through our website and we will follow up immediately from there.'

Caribbean Land and Property have teamed up with some of the UK's leading mortgage providers, to offer Caribbean mortgages in the following countries: Anguilla, Aruba, Bahamas, Barbados, Barbuda, Belize, Bonaire, British Virgin Islands, Cayman Islands, Curacao, Dominican Republic, Grenada, Jamaica, St. Lucia, St. Kitts & Nevis, St Maarten, St. Vincent, Turks & Caicos and Tobago.

Much of the Caribbean is easily accessible through direct and regular flights from the US and Europe. With tourism as a major part of the regional economy, property can be a lucrative income generator through rentals. The World Travel and Tourism Council recently estimated that over US$1.9 billion of economic activity was generated from travel and tourism in Barbados alone. A continued rise in tourism throughout the region is predicted over the foreseeable future and this will result in good returns for buy-to-let Caribbean property investors.

Leading UK property magazine, ‘A Place in the Sun', recently reported that the property market in the Caribbean remains healthy despite concerns that it would be negatively affected by the downturn in the US economy. The variety of the islands, the warm climate and beautiful environment continue to make the region appealing.

The majority of Caribbean currencies are fixed to the US dollar which makes calculating exchange rates easy and stable. Some islands, such as Bonaire are transitioning to use the US dollar as the official currency. The strength of the British pound and Euro make investment in the region very appealing. With the generally lower cost of living many are seeking to make the most of their assets by acquiring property in the Caribbean for their retirement.

Buying property in the Caribbean is a dream for many and now with the Caribbean Land and Property mortgage facility, the dream can now become a reality.