The world's local bank

HSBC recently announced that they are preparing to offer mortgages on second homes and vacation homes in 35 countries by March 2008. HSBC completed a financial merge with Banistmo Bank of Nicaragua about April 2007. The Banistmo Bank signs were lowered and HSBC signs raised. HSBC also has a presence in Panama.

The following newswire explains:

HSBC Plans New Cross-Border Mortgage Product for Early 2008

HSBC has announced plans to launch a cross-border mortgage product - a pre-approved loan with an LTV of up to 60%, which is currently only offered to HSBC Premier clients (who are required to keep at least $100,000 in deposits and investments with the bank.)

The new "much, more open," middle market mortgage will be offered in the same 35 countries that HSBC's Premier service operates, which includes the U.S., Mexico, Brazil, and the U.K.

The UK-based bank hopes to take advantage of a recent trend in people buying second and third homes abroad as investment properties or retirement destinations.

A bank spokesperson noted that " complying with all the regulations has been difficult," and that it was too early to provide specific details of how exactly the product would be formulated.

Source: marketwatch, September 3, 2007

On August 17th. The article suggests moving beyond the normal route of Granada/San Juan del Sur and suggests that Leon, the third tourist area, is worth a good look.

Naturally we encourage that view -- we have been living it for over five years. Gran Pacifica  and (Tamarindo Beach info coming soon )  continues to be the best choices in the Leon / Managua area for ocean front living. With a large expanse of beautiful beach and well designed infrastructure, the future is bright.

The  questions of Who, What, Where, When, Why, and How?
 

Rica Nica Nicaragua Real Estate  &Tourism