Michelle Watler

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Valuations, Surveyors & Mortgages

In the Cayman Islands, most land is privately owned. Every piece of land is registered, and one can examine the records of any piece of land at the Lands and Survey Department. If there are liens, charges or other restrictions upon the parcel you will find this in the parcel file.  The modern land registry system makes transfers simple, quick and safe and is backed by a government guarantee.  If you obtain mortgages in Cayman, all lenders will require an independent valuation for the property you wish to finance.

The Surveyors looks at the boundaries and elevations of the land and building and is essential when building your home or erecting a fence to make sure you are not encroaching on someone else property. 

blueprint architects in cayman homes for sale

We highly recommend the following companies, but there are other well-qualified Appraiser and Surveyors also.

Roland Bodden & Co (Surveying only)
Regency Court, West Bay Road
PO Box 2313, George Town
Grand Cayman KY1-1106

Bould Consulting Limited
PO Box 1489 George Town
Grand Cayman KY1-1110
Tel: 345.946.6063

DDL Studio
Buckingham Sq West Bay Rd
PO Box 31318 George Town
Grand Cayman KY1-1206
Tel 345.943.3622

Fidelity Financial Centre, West Bay Rd
PO Box 30612, George Town
Grand Cayman KY1-1203
Tel 345.623.2772

Whitehall House,
PO Box 871, George Town
Grand Cayman KY1-1103
Tel 345.949.8644

Mortgage Providers in the Cayman Islands

Securing funding and pre-approval for a mortgage before you begin your search for a home or condo or land in the Cayman Islands is the most straightforward way to make sure you get the property you want at the price you can afford.

Pre-approval allows the seller to see that you are serious and can give the buyer more negotiation power, as the seller is often more interested in working with a pre-approved buyer. This early step will avoid any disappointment or frustration by looking at properties that are out of reach financially.  At Engel & Völkers Cayman Island, our realtors can tailor the search for your new Cayman Islands home to exactly what you can afford.

While all 250 Cayman Islands banks are regulated by the Cayman Islands Monetary Authority (CIMA), the majority of these banks are branches or affiliates of established financial institutions located around the world and do not provide walk-in retail services, such as mortgages. The only banks that do offer mortgages are Scotiabank, Butterfield Bank, Royal Bank, Cayman National Bank, First Caribbean Bank, Credit Union and Fidelity. 

Strong Banking in Cayman


The banking industry is doing well with over US$2 trillion in international assets, and 80% of the Top 50 World Banks are licensed in Cayman. Cayman Islands’ banks are bound by strict anti-money-laundering laws and must comply with the OECD's (Organization for Economic Development and Cooperation) requirements, so it is a complicated and long process to open a bank account in the Cayman Islands 

However, once you set up a bank account and comply with all the due diligence, such as showing proof of residence, a passport, and a driver’s license, then you can set up a bank account and apply for a mortgage. 

Interest Rates & Other Fees for Cayman Islands Real Estate

Interest rates for real estate in the Cayman Islands vary. Rates are based on the US prime plus one or two points over the current prime rate depending on your credit score. Most mortgage terms require a 5-40% down payment as well as additional closing costs. Mortgages in the Cayman Islands usually are 10-25 years in length. While the property itself can serve as your collateral in the deal, you will need to prove to the bank that you do not need financing and that you have the funds to make your payments. For most foreign borrowers, any interest accrued on money borrowed in the Cayman Islands is tax deductible, check your tax laws in your home country. 

If you borrow money from a local Cayman bank, there is a stamp duty of 1% charged to the borrower on the mortgage amount, and the amount is paid to the CI Government.  For purchases more than CI$300,000, the stamp duty is 1.5%. Contact your local lender for more details, or contact one the real estate experts at Engel & Völkers to help guide you through the process.

Cayman Mortgage Providers

Royal Bank of Canada
24 Shedder Road
P.O. Box 245 George Town
Grand Cayman, KY1-1104
Tel: 345.949.460

Butterfield Bank (Cayman) Ltd.
Governor Square Branch
P.O. Box 705 George Town
Grand Cayman, KY1-1107
Tel: 345.949.7055

Cayman National Bank Ltd
200 Elgin Avenue
P.O. Box 1097 George Town
Grand Cayman, KY1-1102
Tel: 345.949.0445

Borrowing, buying, and building your luxury home are all easy to do in Grand Cayman but talk to one of our real estate experts at Engel & Völkers to make sure that you have all of the information you need to make the best decision with your Grand Cayman real estate purchase.


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