Released on: April 18, 2008, 9:20 am

Press Release Author: Jim watson

Industry: Real Estate

Press Release Summary: The archipelago of Cape Verde has been topping the lists of
buy-to-let and investment hotspots for a while now, with British buyers among those
who are singing the islands\' praises most strongly.

Press Release Body: The archipelago of Cape Verde has been topping the lists of
buy-to-let and investment hotspots for a while now, with British buyers among those
who are singing the islands\' praises most strongly.

Cape Verde is comprised of ten volcanic islands and five islets, located 600
kilometres off the coast of West Africa. The Cape Verde government states that
tourism has been increasing by 25 per cent each year since 2002, the Global Property
Group reports, with the number of tourists predicted to reach 500,000 following the
completion of all new airports and infrastructure.

Recently, Paul Akswei of Noscasa estate agents told the Sun that the island had good
prospects for capital growth and likened property investment in the former
Portuguese colony as putting money \"somewhere safe\", then watching it grow.

With that intention in mind, what options are there for those who would like to take
out a mortgage for their property purchase? Is the mortgage market in Cape Verde a
viable option or still in development - and is there any hope for interested buyers
in the near future?

The answer, it seems, is mixed. Firstly, explained Heather Chambers, director of
International Mortgage Solutions, buy-to-let mortgages are not available in Cape
Verde. \"So unless you can provide evidence of your own income, you can be
comfortable that you\'re going to rent the property out until the cows come home, but
the bank\'s not going to accept [the mortgage application],\" she said.

In addition, she said that she is hesitant about dealing with banks in the
archipelago in general, claiming they may not always follow through on what they say
they are going to do, adding that \"as a broker, I can\'t deal with that level of
uncertainty\".

Ms Chambers said that most Cape Verde banks \"offer the standard 70 per cent\"
loan-to-value ratio, but recommended that investors look into borrowing through a
Portuguese bank called Banif, which offers 85 per cent loan-to-value.

\"I think someone coming in and beating 85 per cent of purchase price is very, very
unlikely,\" she stated.

Banif also has the advantage of offering loans with fixed criteria, while other Cape
Verde banks may not offer such groupings, Ms Chambers added.

So it seems that taking the advice of Noscasa\'s Mr Akswei and buying a property in
Cape Verde this sunny island paradise could indeed be an option for British buyers -
as long as they also take the recommendations of Ms Chambers and exercise caution
when taking out a Cape Verde Property mortgage.

In today\'s world Property investment is an excellent investment option especially
investment in UK

Web Site: http://cape-verde.assetz.co.uk/

Contact Details: Address:Assetz House, Newby Road, Stockport,Cheshire

zip:SK7 5DA

ph:0845 400 7000

fax:0845 400 6010

email:linkexchangeseo@gmail.com