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Antigua and Barbuda – Property Financing

Mortgages for Foreign Nationals in Antigua and Barbuda

Foreign nationals interested in purchasing property in Antigua and Barbuda may wonder if local banks or other lenders offer mortgages to non-residents. The good news is that it is possible for foreign nationals to obtain mortgages in this Caribbean nation, although the process and requirements may differ from those for local residents.

Local banks in Antigua and Barbuda typically offer mortgage options to foreign nationals, allowing them to invest in real estate on the islands. However, these lenders may have specific criteria and conditions that borrowers must meet to qualify for a mortgage.

It’s important for foreign buyers to consult with local banks or financial institutions to understand the mortgage options available, the eligibility criteria, and the application process.

Local Lenders Providing Mortgages

Several local lenders and financial institutions in Antigua and Barbuda offer mortgage services to both residents and foreign nationals. Some of the prominent local lenders include:

  • Antigua Commercial Bank: This bank offers a range of banking services, including mortgage financing, to eligible borrowers.
  • Eastern Caribbean Amalgamated Bank (ECAB): ECAB provides mortgage solutions for individuals looking to purchase property in Antigua and Barbuda.
  • Scotiabank Antigua: Scotiabank is a well-known international bank with a presence in Antigua and offers mortgage services to eligible borrowers.

Each of these lenders may have specific mortgage products, interest rates, and requirements, so it’s advisable for foreign nationals to contact them directly or visit their websites for detailed information on mortgage options.

Required Deposit When Buying Property

The deposit required when buying property in Antigua and Barbuda can vary depending on several factors, including the property’s purchase price and the lender’s policies. Typically, a deposit of around 10% to 20% of the property’s purchase price is a common range for residential real estate transactions.


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It’s essential for prospective property buyers to be prepared to provide a substantial deposit when making an offer on a property. This deposit is typically paid upon signing the sale agreement and is held in escrow until the closing of the sale. The exact amount and terms of the deposit will be specified in the sales contract, and buyers should review these details carefully.

Buyers are encouraged to work closely with their real estate agents, legal advisors, and lenders to understand the specific deposit requirements for their chosen property and to ensure a smooth and secure transaction.

Responsibility for Outstanding Debts

When purchasing property in Antigua and Barbuda, it’s crucial for new property owners to be aware of any outstanding debts or encumbrances on the property. These outstanding debts can include unpaid property taxes, utility bills, or any other financial obligations associated with the property.

In general, when a property is sold, the seller is responsible for settling any outstanding debts related to the property. It is customary for the seller to clear these debts before the property transaction is completed. However, it is essential for buyers to ensure that all outstanding debts are addressed and resolved during the purchase process.

Working with a qualified attorney or real estate professional is advisable to conduct thorough due diligence on the property’s financial status and to ensure that the property is free from any encumbrances or debts that could affect the new owner.

Additionally, including appropriate clauses in the sales contract can help protect the buyer’s interests and specify the responsibilities of both parties regarding outstanding debts and financial obligations associated with the property.

In conclusion, foreign nationals can obtain mortgages from local lenders in Antigua and Barbuda, but eligibility criteria and conditions may apply. It’s essential to research and contact local banks for detailed information on mortgage options. The required deposit when buying property can vary, and buyers should be prepared to provide a substantial upfront payment. When purchasing property, buyers should ensure that any outstanding debts or financial obligations related to the property are addressed and resolved during the transaction, typically the responsibility of the seller. Consulting with legal and real estate professionals is recommended to navigate the property purchase process in Antigua and Barbuda successfully.


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