Holetown Apartment for a Retired Couple from Surrey
$385,000 · 15 years · 5.75% fixed. A couple who had visited Barbados every winter for fifteen years decided to retire there permanently.
The Client
Retirees Relocating Overseas
The Challenge
A couple who had visited Barbados every winter for fifteen years decided to retire there permanently. They purchased a two-bedroom apartment in Holetown on the west coast. Barbados offers a Welcome Stamp long-stay visa for qualifying individuals and a Special Entry and Reside Permit for retirees.
Our Solution
Doulton placed the mortgage with a Barbados bank and co-ordinated with a local attorney on the Special Entry and Reside Permit application. Pension income from UK sources was accepted. Barbados property purchase tax and stamp duty obligations were clearly communicated.
The Outcome
Apartment purchased. Special Entry and Reside Permit granted. Couple now permanently resident in Barbados. UK pension income covers mortgage and living costs comfortably in the Barbados cost environment. Key highlights: Special Entry and Reside Permit co-ordinated; UK pension income accepted by Barbados lender; Couple living comfortably within pension income in Barbados.