First Caribbean International Bank (Offshore) Limited

If you are buying a property, the First Caribbean International Mortgage is available for up to 70% of the purchase price or of the Bank’s valuation of the property (whichever is lower) and up to 50% if you are building.

Our Offering for St. Lucia is 60% financing for properties costing up to USD$1.5 million exclusive of furnishings. For construction projects (self-builds) financing is limited to 50% financing. For selected developments, a higher LTV may be considered.

For property purchases costing in excess of US 1.5 million, our financing is limited to 50% of cost, exclusive of furnishings.

Mortgages run for up to 15 years and First Caribbean offers internationally competitive rates linked to US prime for amounts up to USD$750,000.00 and 3 month LIBOR for amounts in excess of USD$750,000.00.

Interest rates can be fixed for 3 and 5 year periods.

Our mortgage is normally structured over a maximum 20 year term, or until retirement.

Interest rates are linked to USD 3 month Libor + 3%.

Fixed rate options are also available for up to 5 years.

Interest Only options may be considered, however they are limited to a maximum interest only term of 5 years, thereafter, if a balance is out-standing, it is repayable over the remaining term through payments representing a blend of principal and interest.

Repayments are quarterly for interest rates linked to LIBOR.

You must be an International Banking Centre customer to qualify for a mortgage.

Our International Mortgage offers non-nationals and non-residents an option to finance property purchase in St. Lucia using the said property as security.

Here is a list of our minimum personal account opening and mortgage requirements. Please note that the Bank reserves the right to request additional information / documentation as part of its due diligence and credit analysis policies.

Mortgage

• Minimum mortgage amount USD250,000.00
• Fully completed application form
• Letter of introduction from employer to confirm remuneration, office held and length of employment
• Tax returns for the last three years (full sets)
• Last six (6) months original bank statements, to include evidence of savings
• Original report from your accountant on your assets and liabilities
• Professional valuation of property being purchased (from a valuer approved by the Bank)
• Copy of the signed purchase agreement
• Credit bureau report
• Evidence of the source of funds that will represent your contribution to the proposal
• Last three (3) years audited financial statements, if applicant is a company or owns a company that is the source of individual’s remuneration.