Funding Island Porperty

Deborah Benn looks at ways to finance your new Caribbean dream home - it’s the purchase of a lifetime, after all

Often described as heaven on earth, the Caribbean is on the A-list of places to buy property.  Attracted by pristine sands and the azure blue water of islands such as St Lucia, Barbados and the Bahamas, the Caribbean is the preferred property location for celebrities worldwide and attracts continued interest from buyers in Canada and the US. All reasons why property prices have generally held up well in the region.  

Having decided to dip your toes into the warm waters of the Caribbean property market, assessing your finance options early is advisable. Overseas property and finance specialist, Simon Conn, warns that mortgage limits in the Caribbean can be tough. Maximum loans of 60 to 70 per cent of the property price operate on most islands. The exception is the Dominican Republic, where loans of up to 80 per cent of the property’s value can be obtained. “The minimum loan available is generally $250,000, so properties of smaller values will require a cash purchase,” explains Conn. Again, there are exceptions such as the Dominican Republic, where the minimum loan available is a much lower $50,000.

Read more...

The cost of being an expat

With inflation and rising costs, you need to ensure you are able to provide a strong case for increased cost-of-living expenses from your overseas employer, says Hannah Beecham

There’s a funny saying you may have heard: “bad news not only travels fast but also far and wide.” I’m afraid that’s proving true for expats this year. The latest figures for cost-of-living in key expatriate locations suggest that those of you living in Europe, South America and Asia-Pacific will be worse off by the end of 2011.

Experts Xpatulator.com explain that higher food and oil prices are the main reasons behind these rises. The one location seemingly offering relief on the daily expenditure forecast front is the United States. Here, expats should find their cost-of-living becomes less expensive over the course of the year, particularly with respect to indigenous goods and services.

So, where are expats having to dig the deepest to cover their daily expenditure? Locations appearing in the top 10 list include Caracas, Hong Kong, Geneva, Sao Paulo, Oslo and Moscow.

Read more...

Trust should be earned

Hannah Beecham explains why expats should always check the credentials of anyone claiming to be a financial adviser

When you think about the qualities you admire most in those you respect, concepts such as integrity, sincerity and trustworthiness will undoubtedly be at or near the top of your list. So what qualities would you expect to find in a good financial adviser? Would you lower the bar? And, in that first crucial meeting, how would you put those qualities to the test? Too many smart, capable expats on the look-out for financial advice are falling for smooth-talking con merchants. Right now, 49,000 investors  are learning from the UK’s financial regulators that the adviser they entrusted their savings to is, in fact, no such thing and what they’ve done is hand over all they’ve got to a common thief. It’s time we put a stop to the rot.

Read more...