As we get further from 2009, and economies pick up throughout the Caribbean, is it getting easier to find mortgage money?
The short answer is likely no, as the banks are still very tight with regards lending. There are simply too many foreclosures still on the books in many of these countries. Until the banks start to work through these, they will be reluctant to lend. We have institutional lenders in the US, who are aggressive, however it has to be the right market and the right project for it to make sense.
Mortgage companies who offer private lending, are still lending (assuming they made it through the recession), but loan to values are still conservative and rates are quite high.
Lastly, private lenders are still looking to invest their savings in something other than a term deposits, however these lenders are not always reliable as the timing has to work, and you have to be able to find them. Generally these private lenders are a bit cheaper than the mortgage companies, but again, your timing has to be right with regards to needing the funds.
The Caribbean mortgage market is a real patchwork of options; without an expert knowing how to find these mortgage options it can still be very difficult to finance properties in the Caribbean.