Financing
Mortgages
Mortgages are available for up to 90% of the villa price. Interest rate is currently from 5.5% through the First Caribbean Bank (part of Barclays). The 5.5% to 7.75% (depending on credit standing) is an ARM (adjustable rate mortgage) with a minimum of one year and a maximum of seven years. Mortgages are subject to status.
How to reserve
- Clients pay £1,000 refundable deposit.
- After 14 days, client purchases the plot (at this point the client will sign to say they will purchase and build “X” type of villa). The client then has up to six months to organise the finance for the villa.
- After six months the client pays 10% for the villa.
- Final 90% through a mortgage.
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