about the 7 year roll over plan ? How can they lend to someone who's life on the island is so short lived?
Any bankers out there who care to comment ? How do you Amortize loans and mortgages ? Are they over 7 years ? WOW what are the repayents over that period ? Do you even lend to expats ? Hummm, lets hear some feedback.
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Ludicrous!
What are you getting at? In 7 years one would pay off 2 car loans at least..as far as the mortgages...what about the many Caymanians looking to purchase homes,land etc? Can't you see the way the whole cycle is desgned to work? Well let me break it down for you. You roll over an expat position, who gets replaced by a qualified Caymanian. Which bank wouldn't prefer the security it gives them to lend to someone who LIVES here. The problem is that you are looking at this one sided, in 10 years with a policy like the Roll-over there should be so many Caymanians qualifying for loans the banks should be very happy, also the loans would be more secure. It doesn't matter if an expat is here for 7 years or 77 years. Who's to stop them one day from becoming homesick and taking the next flight out of here?
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