Cape Verde Mortgages
Cape Verde Mortgages
Advice from an Independent Mortgage Broker: The situation on the islands regarding finance is very simple. It does not have the sophisticated range of products that we have in UK. Mortgages here are full status, clients have to provide proof of their income, and are usually capital and interest repayment loans with variable rates. It is now possible to obtain 5 years interest only mortgages. Usually the banks will allow you to borrow up to the age of 75 and for a maximum of 35 years. They will lend 85% of the lower of the purchase price or valuation and currently the rate of interest is about 8%. The rates are reducing; they were 11% 18 months ago. On some developments it is possible for the banks to assist with part of the required deposits.
For further information:
CAPE VERDE MORTGAGE COMPANY
HAZEL WOODCOCK
MORTGAGE DIRECTOR
Tel 00238 9802140
Email capeverdemortgagecompany@gmail.com
