British Virgin Islands

Mortgage in the British Virgin Islands

The British Virgin Islands (BVI) are a very popular location for those looking to buy a vacation property in the sunny Caribbean. The island chain consists of 60 islands and cays, the 4 largest being Tortola, Virgin Gorda, Anegada and Jost Van Dyke. The Islands have a population of just 30,000 residents, nearly 25,000 of which on the main island of Tortola.

The islands economy is based primarily on tourism and banking, like many of the tax haven Caribbean islands. With nearly 1M tourists visiting the islands yearly (including cruises), it’s easy to see how well an investment/vacation property can do in the BVI.

New BVI Guidelines

We are now only accepting applications for properties valued over 1.5M USD. The minimum mortgage amount on this private home loan is 750k USD.

Financing Options in the Virgin Islands

We offer private financing in the British Virgin Islands through our jumbo mortgage. The rates on our private loans will never be mistaken for bank loans, however they are a good option when qualification with the bank is proving to be too challenging or time consuming. Generally our non bank option is only available in Tortola, however we can look at properties on the other 3 major islands on exception.

We are not currently offering standard conventional mortgages in the BVI at this time. Our lenders are looking for higher end properties in the vacation market space., primarily on the water. Unfortunately our currently mortgage options will not work for everyone looking to buy in the Virgin Islands.

Qualifying for a Mortgage in the BVI

There are some common factors regardless of the lender we use in the BVI; you will be required to have 50% equity in the home and they must be in the tourist or expat areas of the island. For our private loan, the minimum property value is $1,500,000.

As well as buying a new vacation property, we can also assist clients in refinancing their existing homes in the BVI. Again, 50% will be the maximum loan to value we can finance, however our lenders are a great option for those who have trouble with the banks.

Talk to us today about a mortgage in the British Virgin Islands. We can usually tell you right away whether your property/situation will work with our Caribbean mortgage lenders. Your vacation property in the British Virgin Islands may be closer than you think!