RAISING PROPERTY FINANCE

Popular banks to deal with are Bank of Nova Scotia, The Royal Bank of Trinidad and Tobago or the Royal Bank of Canada.

The Royal Bank of Canada usually offer finance of 75% of the deal - you put up 25%.

Mortgages would normally receive interest rates of 6% to 7.60% on terms etc. These can be negotiated depending on the loan to value of the property.

The Bank charges a one-time 1% to arrange the mortgage.

The legal fees for setting up the mortage would be 2%.

The maximum age restriction is 62 Years of age.