OVERSEAS MORTGAGE
Owning a property abroad is now more popular than it has ever been and there is no sign of the growth of interest in the overseas property market slowing for residents of the UK.
The temptation of a better climate with less wind and rain and a lot more sun is continuing to prove irresistible to many of us, who have to put up with the more unpleasant aspects of the British weather especially during the long winter months.
So if you are already thinking about buying a foreign property with a mortgage, whether as a holiday home or for retiring abroad, then just let us know and our specialist broker can help you by arranging an overseas mortgage that will enable you to fulfil your dreams.
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Our specialist overseas mortgage broker can provide you with free and impartial professional advice. Their advisers are friendly and helpful, so just give us a call.Even if you have problems with your current credit status or think it might be difficult to prove your income they should still be able to help you. |
There are many mortgages available to you each with different options and most are now available for many foreign destinations. It is possible to change the mortgage on your existing home to fund your purchase of a property abroad. Alternatively you can take out a mortgage directly on the property you want to purchase.
Getting a loan for property located in a different country is inherently more complex than a normal residential mortgage in this country and you should always seek professional advice.
Some Tips on Buying Overseas
As with any property purchase make sure you apply to a broker or lender early and get a mortgage approval in principle before you make any offer on a property.
Definitely do not pay any sort of deposit or sign any sort of contract until you are absolutely sure that you can get the mortgage you need.
Even more importantly if you are given a contract to sign do not sign it immediately. Make sure you totally understand what it is all about. Get it translated so you can read it and then get legal advice on the contract from someone who understands the local laws in your country of purchase and who can speak the language fluently.
It always pays to not rush into anything. Never make snap decisions or be pressured by anyone or even by time constraints. If you need to make a decision on your dream home then you should go away and think about it.
If you are on the last days of a visit to your country of choice and you feel a decision needs to be made then put the decision off until you get back home to the UK. Documents can be sent quickly and securely by courier to and from any country, so nothing really needs to be done as quick as you think.
Owners rushing in and signing too quickly have made many big and expensive mistakes in the past!
Even before you get to the stage where you are thinking of making an offer you should get advice from local professionals such as estate agents, solicitors, surveyors, architects and builders who will know the ins and outs of buying or building property in your chosen country. Try and find those that speak english as well as the local language.
You will need to get a clear understanding of all and every cost associated with buying your villa in the sun to make sure you really can afford it. Local professionals will know this so push them for every last bit of information. Do not assume that they will forthcoming with absolutely everything you need to know, especially if speaking english is not so easy for them.
