First Caribbean National Bank will finance properties across the islands and provide mortgages to expats in the Caribbean as well as UK residents. HiFX Mortgage Services claims to be the only major UK broker to provide a fee free overseas mortgage service, and is fully FSA regulated in the UK.
First Caribbean, one of the biggest banks in the Caribbean mortgage field, will be offering loans to finance properties on the islands of Barbados, St. Lucia, St. Vincent, Tobago & the Grenadines. The lending criteria carries a LTV of up to 70% for properties up to $2.5m, 60% LTV for construction projects and 50% LTV for properties over $2.5m. HiFX also rewards both parties and pays referring agents an introductory commission of 35% of the fees received from the lender.
Jane Ayliff, head of international mortgages at HiFX Mortgage Services, commented, "We are delighted to be able to offer mortgages in the Caribbean, especially through the First Caribbean National Bank. The bank has an excellent reputation in dealing with the needs of international property investors and buyers.
"Despite problems in the US, there has been no knock on effect on the Caribbean Islands and they are still proving to be an incredibly popular destination. With the pound trading well against the dollar, especially compared to the Euro, the demand from British buyers is ever increasing."
HiFX offers tailor-made services, which include exclusive mortgage products, dedicated underwriters and a fast track personal service specific to the chosen country. Other foreign based mortgages are currently offered in Spain, France, Italy, Portugal, Canaries, Balearics, Madeira, Dubai and South Africa. In addition to these countries HiFX offer mortgages representative of the whole market within the UK in order to fund purchases across the world.
