We're here to make it happen
Buying a new home is the biggest purchase you are ever likely to make, and whilst it’s an exciting time, the legal and financial details can be overwhelming.
At Butterfield, we understand the important details and we are here to answer any questions or concerns you may have.
So whether you are considering financing your first home, investment property, a condominium or land purchase, Butterfield can help simplify the process.
Looking to purchase a new home? From now through 31 March 2018 take advantage of our fixed rate offer*:
|To qualify for our Premium Banking rate, customers must have between $250,000 and $750,000 in deposits: or between $500,000 and $1,000,000 in loans with Butterfield.|
Click here to learn more about Butterfield Premium Banking
For existing owner-occupied property mortgages, from now through 31 March 2018 take advantage of a fixed rate of 5.25% for a period of three years**
*Fixed rate offer available to qualified applicants for new mortgages only and does not apply to land loans. Terms and conditions apply.
**Not available for investment property mortgages or land loans. Terms and conditions apply.
For more information, speak with a member of our Personal Lending team by calling us on (345) 949 7055. Alternatively, you can stop by our Butterfield Place Banking Centre, or click here to download your application today.
What documentation do I need to apply for a mortgage?
- A completed loan application form. The application form is attached to the Personal Lending brochure. If you need help completing the form, our personal lending professionals will be happy to assist.
- Verification of employment and salary. We will need a letter from your employer addressed to Butterfield Bank (Cayman) Limited confirming income, position and length of service.
- Bank reference letter (not required if you are already a Butterfield customer)
- Purchase agreement (for properties to be purchased)
Other documents you will need in special circumstances:
- In the case of a building project, you will need at least three building cost estimates
- If you are self-employed, you will need financial statements for your business for the last two years
Features and Benefits
- Mortgage financing up to 90% of the purchase price or appraised value of the property, whichever is less
- Amortisation period of up to 30 years
- Fixed or variable interest rate options
- Preferential rate insurance for single homes from Island Heritage Insurance Company Ltd.
- Prepayment fee equivalent to up to three (3) months interest on the amount prepaid will normally apply on fixed-rate mortgages
- Easy record keeping with all mortgage transaction details included in your Bank account statement and through Butterfield Online an Mobile Banking.
What other costs are involved?
When purchasing a home and obtaining a mortgage, there are a number of costs you need to plan for, including legal fees and stamp duty. In total, these usually amount to around 10% of the mortgage amount.
For more information on how to obtain financing for your home, please download an application or contact a member of our personal lending team.