In a heavy-bottomed saucepan, melt the sugar over medium heat until it turns into a golden caramel. Carefully pour the caramel into the bottom of a heatproof dish or individual ramekins, tilting to coat the bottom evenly.
Prepare the Custard:
In a mixing bowl, combine the sweetened condensed milk and whole milk. Stir well to blend.
In a separate bowl, whisk the eggs until smooth, then add them to the milk mixture. Add the vanilla extract and mix until well combined.
Assemble:
Pour the custard mixture over the caramel in the dish or ramekins.
Bake:
Preheat your oven to 350°F (175°C). Place the dish or ramekins in a larger baking pan. Pour hot water into the larger pan to come halfway up the sides of the custard dish or ramekins.
Bake for about 45-60 minutes, or until the custard is set and a knife inserted in the center comes out clean.
Cool:
Remove from the oven and let the custard cool in the water bath. Once cool, refrigerate for at least 4 hours or overnight.
Serve:
To serve, run a knife around the edges of the custard to loosen it. Place a serving plate over the dish and invert it to release the custard with the caramel sauce on top.
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