Construction is back in a big way in the Turks and Caicos, unfortunately construction financing is not. The local banks don’t seem to know whether they are coming or going (leaving the Caribbean market), leaving clients with a funding challenge. One option available for those looking to build a home or commercial space in the Turks and Caicos, is Carib Capital. Carib Capital is a private equity lender offering mortgage funds to those looking to finance construction projects in the Turks and Caicos, with loans from $500,000 to $20,000,000.
Carib Capital offers non-bank construction financing, meaning the rates and terms will not be what you would get from your bank, however they are a much less difficult financing to arrange as the primary qualification for these mortgages is equity in the property. With maximum loan to values around 60%, these loans require a bit more equity than a typical bank mortgage.
To discuss your construction financing in the Turks and Caicos, contact Carib Capital through our ‘contact widget’ on the side bar. We will forward your request and you will be on your way to building your dream home in the Turks and Caicos!