International Mortgage Solutions
International Conveyancing solutions

Personal, Professional & Independent Advice.

Spain:   +34 952 459 745

Loan to Values

With our current Cape Verde Mortgage products you can achieve 70% of purchase price and it may also be possible to secure a mortgage for land although loan to values and terms may fluctuate. The loan will be a percentage of purchase price or valuation whichever is the lower.

Cape Verde Mortgage Product Ranges

You can obtain mortgages for purchase of existing property, re-mortgage of existing property and land.

Interest only for 5 years and capital and interest is available.

Interest is linked to the Euribor and loans are provided in Euros. Interest rates are still quite high in Cape Verde with the margins above Euribor ranging from 3 to 4.5% above the prevailing rate.

The mortgage can be in personal names and may also be available in company names with a guarantee from the beneficial owners.

Approval in principles may take a while to obtain as non resident mortgages are in their infancy in Cape Verde and the lifestyle there is very laid back. You may be requested to supply extra documents and to provide translated documents in certain circumstances.

Follow this link for more details on our Mortgages in Cape Verde products

Term

Terms are up to 35 years and most banks will look to see the mortgage redeemed in full by the time you have reached age 75.

Costs

Total finance and purchase costs will equate to approximately 6% to 7%% of the purchase price.

Your costs will be made up of

Personal legal costs 1%

Mortgage registry costs 3% of lending

Notary and land registry 3% of purchase price

Mortgage arrangement and application fees 1.5%

Valuation fees 0.50%

Currency

Loans are granted in Euros and its repayments must be paid in Euros.

Underwriting Criteria

The banks in general work on net income and an affordability ratio. The bank will expect to see that combined debt payments including the new loan to be taken out do not exceed around 35%/40% of your after tax incomes. All products are full status there are no self cert products available currently.

Benefits of Raising Finance in Cape Verde

Loan not linked to UK assets

Standard Non Resident Document Requirements for Cape Verde Mortgages

Employed

Last 3 months payslips

Last 2 to 3 years P60

Employer's reference

Last 6 months bank statements

Self Employed

Last 3 years certified accounts

Last 3 years self assessment tax return and tax calculations

Last 6 months business bank statements

Last 3 months private bank statements

Certified passports

Certified proof of current address

Purchase contract

Credit file

If you would like to speak to a lawyer who can assist with your legal requirements in Cape Verde please link to our lawyer page.

Useful Links

Link to Us Spanish Mortgage Calculator Process & Packaging Services

Conveyancing Services Spanish Insurance Broker Spanish Bank Information

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Spain: +34 952 45 97 45 | Fax: +34 952 45 97 42

International Mortgage Solutions, Lista de Correos, C.P 29110, Monda Malaga

International Mortgage Solutions guarantee the following:
Neither your personal financial details or other personal information sent for a mortgage enquiry or application
will at any time be passed to or sold to any third party for data base marketing purposes or any other reason.
Information in relation to a full mortgage application will only be passed to the bank or relevant banks to which we are making an application.

Please note that all UK mortgage enquiries are passed with the clients permission to an authorised independent UK broker.
We do not advise on or arrange UK loans directly ourselves as we are not FSA regulated to do so.