FAQ's

Will Caribbean Property for Sale. charge me a fee?

NO! the £1,000 fee is part of the purchase price of the property and is not held by Caribbean Property For Sale. All £1,000 deposits are held in a client account by HIFX.

By joining Caribbean Property For Sale's mailing list will i receive other investment opportunities?

Yes. By joining the Caribbean Property For Sale Mail list you will also be offered the chance to invest through our sister companies. This could involve being sent properties from other areas in the world to properties in the UK. Let us know if you do not want to recieve these emails.

I do not have any cash savings to commit to a deposit, but I am interested in purchasing investment properties. Can Caribbean Property for Sale. assist me?

Yes, Caribbean Property for Sale. have our own in house finance brokers who will seek to find you the best lenders. Our brokers do not charge a fee and offer whole of market advice. This means they are not tied to anyone and can offer you a loan through any finance company and offer you the best deal in the market. Please contact us for further information on finance.

As above Caribbean Property For Sale have their own in house mortgage brokers who can offer free advice and arrange releasing your funds in the most cost efficient way. Please contact us for further information or advice on releasing funds and equity.

Can Caribbean Property For Sale help me to use my pension to purchase investment property in a more tax efficient way?

Yes, Caribbean Property for Sale can put you in touch with IFA's (independent financial advisors) who will help create a SIPP and allow you to use it to purchase property.

What Due diligence is carried out on the developments and developer?

There is a number of checks we carry out before marketing any new development. All developers have to go through strict due diligence including financing of the project, planning permission details and background to the developer. All developments marketed by us are from UK owned developers who already own the land they are selling. There is no borrowing from banks to build and therefore less risk.

The tax implications vary between developments. St Vincent and the Buccament Bay development, has no buying tax or capital gains tax. This is something that was negotiated with the government of St Vincent. We are not tax experts though so would advise you to contact a tax expert.

Is seems a bit too good to be true, what's the catch.

Absolutely, it does seem to good to be true. Obviously there are risks when buying investment property overseas. Just like there is when buying property in the UK. Many of the properties are already built or are well into the development stage and we have already seen price rises from properties we sold 3 years ago. Clients who have already bought are coming back for more because they have made money on our properties already. We always recommend clients to also do there own research into compatibles and the companies involved.

Yes. It is fine to arrange a viewing trip but it is not free. Caribbean Property For Sale have no problem helping to arrange your visit but it is not something we pay for. Clients are welcome to arrange their own viewing trip and we will organise a representative to show you around the development.

Can we set up a one to one meeting rather than discuss over the phone?

We are more than happy to meet you face to face and will always recomend you visit the developer and speak to them directly. Caribbean Property For Sale always like to be transparent and are happy to meet up where ever you want within reason.

You advertise 100% finance how does this work

The client raises a loan to fund the 30% deposit by secured loan or personal loan, the developer will make the interest payments for this amount on your behalf. See the example below:

• 30% deposit required (less £1000 ($2000) reservation fee) within 45 days of reservation.
  Should you finance the 30% deposit, the developer will pay the loan repayments,
  including interest, for the 30% deposit until completion of the specific unit you have reserved.
  

These payments will then be added to the purchase price on completion.

Example (Sterling): Property price £200,000. £1000 reservation fee paid.
The deposit = £200,000 x 30% = £60,000 - £1000 (reservation fee) = £59,000.
Interest on £59,000 @ 6% p.a. = £295 per month, paid for 24 months by the developer = £7,080 added to the purchase price upon completion.

Example (US Dollar): Property price $370,000. $2000 reservation fee paid.
The deposit = $370,000 x 30% = $111,000 - $2000 (reservation fee) = $109,000.
Interest on $109,000 @ 6% p.a. = $545 per month, paid for 24 months by the developer = $13,080 added to the purchase price upon completion.

Due to the significantly discounted off-plan contract price and the capital appreciation during the construction phase, it is anticipated that the £200,000 ($370,000) purchase price will have grown to a value at completion of circa £325,000 ($601,250)

At this point a 70% loan to value guaranteed mortgage is available and therefore you will be able to borrow up to £227,500 ($420,875). This is clearly more than enough to pay for the £199,000 ($368,000) (purchase price less £1000 ($2000) reservation fee) that you owe as well as the accrued interest of £7,080 ($13,080) - from the above example.

Assuming you borrowed the maximum loan to value mortgage, available from the example above, you would borrow £227,500 ($420,875) on which the annual interest payment would be £18,200 ($33,670) based on a rate of 8%. The rental guarantee of 10% of your purchase price of £200,000 ($370,000) will generate you an income of £20,000 ($37,000) each year, should cover your mortgage payments. If you wish you could retain the £59,000 ($109,150) loan you took out for the deposit, pay the interest yourself each month, from completion onwards, and use the money to invest in a further investment property purchase.

Caribbean Property For Sale does not guarantee which method of lending or loan will be offered. If we are able to obtain finance, from whatever means as previously mentioned, and the client refuses this for whatever reason, or decides not to proceed, the reservation fee is non-refundable. If a client arranges their own investment property loan and is unsuccessful, World Property Investor then reserve the right to try and obtain finance through their own contacts. In all instances, if we are unable to obtain a loan for you the reservation fee will be refundable.

**Subject to status. Terms & conditions apply.

Please fee free to visit our investment property blog for further details and updates.