Overseas mortgage finance house Smart Money Overseas (SMO) is extending its lending facility to the emerging Cape Verde islands.
The ten-island archipelago, situated off the west coast of Africa has seen prices for off-plan properties doubling in some instances, according to the lender. SMO is offering mortgages on property on Sal and Santiago, expanding its existing operational portfolio of countries that includes Canada, USA, The Caribbean, Switzerland, and Portugal. The finance house offers interest-only or repayment mortgages of up to 80% loan to value in Euros, at 5.35% variable rate for up to 30 years, with investors having to borrow at least €50,000. There is no ceiling and applicants can be aged up to 75.
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