HIFX Caribbean Mortgages Tie-up With First Caribbean National Bank

While HiFX Mortgage Services has already created something of a name for itself across the world with a range of fee-free mortgage services, the Caribbean property market has now been added to the ever growing list of countries in which it has an exposure. In a venture with the First Caribbean National Bank, HiFX Mortgage Services has announced plans to offer mortgages to expats and UK residents looking at property in areas such as Barbados, St. Lucia, St. Vincent, Tobago and the Grenadines.

Under the arrangement with First Caribbean National Bank, borrowers will be able to apply for 70% mortgages on properties with a value of up to $2.5 million, 60% on construction projects and 50% on properties with a value of over $2.5 million. Customers of HiFX Mortgage Services will not pay any fees direct to the UK FSA regulated lender and HiFX Mortgage Services will look to pay referring agents 35% of their commission from the lender.

It has to be said that while HiFX Mortgage Services were little known in the UK until recently, they have made a niche for themselves with the expat market and those still resident in the UK but looking to acquire property overseas. They have been very astute in choosing partners such as First Caribbean National Bank and other similar banks, all of whom have knowledge of the local markets and regulatory framework – something which has been known to put off many potential UK investors.

When you consider that While HiFX Mortgage Services has already created something of a name for itself across the world with a range of fee-free mortgage services, the Caribbean property market has now been added to the ever growing list of countries in which it has an exposure. In a venture with the First Caribbean National Bank, HiFX Mortgage Services has announced plans to offer mortgages to expats and UK residents looking at property in areas such as Barbados, St. Lucia, St. Vincent, Tobago and the Grenadines.

Under the arrangement with First Caribbean National Bank, borrowers will be able to apply for 70% mortgages on properties with a value of up to $2.5 million, 60% on construction projects and 50% on properties with a value of over $2.5 million. Customers of HiFX Mortgage Services will not pay any fees direct to the UK FSA regulated lender and HiFX Mortgage Services will look to pay referring agents 35% of their commission from the lender.

It has to be said that while HiFX Mortgage Services were little known in the UK until recently, they have made a niche for themselves with the expat market and those still resident in the UK but looking to acquire property overseas. They have been very astute in choosing partners such as First Caribbean National Bank and other similar banks, all of whom have knowledge of the local markets and regulatory framework – something which has been known to put off many potential UK investors.

When you consider that HiFX Mortgage Services already offer similar partnership services in Spain, France, Italy, Portugal, Canaries, Balearics, Madeira, Dubai and South Africa it is easy to see why they are able to attract high calibre local banking partners. This seems to be a market which the major UK banks have ignored, but one which is set to have a material impact upon the expat and international property investment market.While HiFX Mortgage Services has already created something of a name for itself across the world with a range of fee-free mortgage services, the Caribbean property market has now been added to the ever growing list of countries in which it has an exposure. In a venture with the First Caribbean National Bank, HiFX Mortgage Services has announced plans to offer mortgages to expats and UK residents looking at property in areas such as Barbados, St. Lucia, St. Vincent, Tobago and the Grenadines.

Under the arrangement with First Caribbean National Bank, borrowers will be able to apply for 70% mortgages on properties with a value of up to $2.5 million, 60% on construction projects and 50% on properties with a value of over $2.5 million. Customers of HiFX Mortgage Services will not pay any fees direct to the UK FSA regulated lender and HiFX Mortgage Services will look to pay referring agents 35% of their commission from the lender.

It has to be said that while HiFX Mortgage Services were little known in the UK until recently, they have made a niche for themselves with the expat market and those still resident in the UK but looking to acquire property overseas. They have been very astute in choosing partners such as First Caribbean National Bank and other similar banks, all of whom have knowledge of the local markets and regulatory framework – something which has been known to put off many potential UK investors.

When you consider that HiFX Mortgage Services already offer similar partnership services in Spain, France, Italy, Portugal, Canaries, Balearics, Madeira, Dubai and South Africa it is easy to see why they are able to attract high calibre local banking partners. This seems to be a market which the major UK banks have ignored, but one which is set to have a material impact upon the expat and international property investment market.