Bahamas

At a glance:

	Mortgage	Refinance	Equity Release	Buy to Let
Maximum Loan to value	70%	70%	70%	N/A
Maximum Interest only period	3	3	0	N/A
Maximum Term	30 years	30 years	30 years	N/A
Maximum Age on completion	70	70	70	N/A
Average interest rates	6.5%	6.5%	6.5%	N/A
Average monthly price per thousand	6.37	6.37	6.37	N/A

Process:
Mortgages in the Bahamas, for non residents, can take up to 3 months to arrange. The banks ideally prefer to lend for holiday homes as opposed to investment properties. They also tend to have high minimum loan amounts.

Approximate timelines (weekends not included):

1.	Approval in principle	Instant
2.	Final licences	Day 1
3.	Property registration details	Day 1
4.	Application (receipt of documents)	Day 1
5.	Power of attorney	Day 1
6.	Confirmation of approval in principle	Day 6
7.	Valuation	Day 16
8.	Formal offer	Day 23
9.	Arrange signing	Day 28
10.	Signing	Day 35
11.	Transfer of deeds	Day 35
12.	Payment to developer	Day 35
13.	Agency of service	Day 35
14.	First mortgage payment	Day 36
15.	Commission received	Day 60

Costs:

For guidance purposes, as costs vary from lender to lender:

Cost	Amount	Payable
Application / bank fees	500	Up front
Valuation fee	500	Up front  (refundable)
Opening commissions	1% of loan amount	On signing
Registry / Notary fees	0.75% of purchase price	On signing
Agency of Service	120	Annually on signing date

Currencies:
US Dollars and Sterling.