Overseas Mortgages
There are over 275,000 people from the UK already overseas property owners and this
figure is set to climb a lot higher in the coming years according to the Office
of National Statistics.
Therefore, it is imperative to make the right choice when considering how to finance
your overseas property purchase. Overseas mortgage lenders abroad are becoming very competitive
so be selective in your choices.
In addition to absorbing the information set out in our
Buyers Guides it is most important to study the overseas mortgage broker's
facilities available to you as an overseas buyer. We have deveised a guide
to help you select the right options when considering applying for an overseas mortgage.
Browse through our Overseas Mortgage section at your leisure and Contact
us if you have any questions.
Overseas Mortgage Brokers and Lenders
For many UK investors, purchasing overseas property has become increasingly popular.
Finding the best 'deals' from a UK property is getting harder, so some investors are
looking further a-field to find the next big real estate opportunity.
The more familiar territories such as Spain
and France remain very popular, but
investors are becoming braver and venturing into new territories such as Eastern
Europe, South Africa and China
to name but a few.
In the UK we are used to a wide choice of mortgages such as 100% lending, Buy-to-Let,
Let-to-Buy, self-certification, credit impaired, interest only etc. However most
overseas markets are nowhere near as developed or as flexible. You may have wandered
down the high street and discovered names such as Halifax and Abbey have lending
arms to assist with lending in Spain
and France retrospectively, but try
to find a high street lender willing to consider a mortgage in
Croatia or finance in Dubai
and you could be searching a long time!
View Overseas Mortgage Deals
So should you decide this is the investment for you, how do you finance the purchase?
Until recently, many countries were only for cash rich buyers.
If you have equity in your UK residence, you may be able raise money this way to
fund your purchase. This however can be quite restrictive particularly if you wish
to fund several properties and a bigger problem if you have already used that equity
to build a UK portfolio!
Many of the countries local banks have recognized the demand and are beginning to
show an interest in lending to UK and other foreign investors. It's not as easy
as its sounds however, as these mortgage products invariably have to be created
from scratch. Our overseas mortgage partners have been at the forefront of encouraging this
lending in areas such as Hungary,
Bulgaria and
Croatia. Negotiations are often lengthy and frustrating, as many of these
countries do not operate at the 'pace' we are used to in the UK, but Rome wasn't
built in a day!(they lend there too)
Our Niches We are able to assist you with an overseas mortgage in over 48 Countries abroad.
We are particularly proud to be among the first to offer overseas mortgages in Eastern Europe
including mortgages in Hungary, mortgages in the Czech Republic, Slovakia,
Bulgaria and Turkey with others being added regularly.
Overseas Mortgage Quotes
Where do you start? Please complete your details at the bottom of this page
and one of our specialist advisers will contact you to discuss your requirements.
Approval in Principle For all countries we are able to offer an approval
in principle service. We will ask you to complete our confidential information form.
This provides us with sufficient information about your finances to advise you of
the likely hood of obtaining finance. In some cases we can obtain a formal approval
in principle directly from the lender which is particularly comforting for new build
purchases where you need to commit to a purchase way in advance of applying for
the mortgage.
What happens next? If you wish to proceed, we will send you a full application
pack. Any required application forms will be pre-populated with the information
you have already supplied. We will supply you with a specific document requirements
checklist and additional information and tips about your purchase.
During the purchase Once you have returned you application to us, as well
as processing the application, we will provide you with guidance on the whole process.
We will monitor your application with the lender closely and provide you with regular
updates and explanation of any terms when the offer is produced. We will liaise
with your other chosen professionals to help with your understanding of the complexities
of your purchase such as buying through a company, residency permits, taxation issues,
life cover assignment etc.
View All Overseas Mortgage Deals
Additional Services As with the UK, you will be required to insure the property.
Many Overseas mortgage lenders also insist on Life Cover. In some cases an existing plan
may be used if it meets the minimum requirements. It is important this issue is
not left too late, as you may be unable to complete on your purchase until cover
is in place, which can sometimes be delayed by requirements for medical information.
Our recommended independent advisers can provide specific advice.
Our Fees Variable but start from £395 on mortgage application and 0.5% of
the mortgage (minimum £500) on sucessful completion.
Overseas Mortgage Lenders
We feature a select few when it comes to reccommending mortgage brokers and lenders
from the UK. This can be an easier way to arrange your finance or mortgage requirements
before you begin your search. Listed below are some of the advantages to using some
of the companies we reccommend.
- More than 200 residential overseas mortgage products available in over 30
countries worldwide including Bulgaria and Turkey
- Over 10 years of trading and 20+ staff experienced in conducting business with overseas
and foreign lenders
- Fully independent with more overseas mortgage brokers and lenders and more choice
- Competitive and exclusive overseas mortgage terms
- In some countries, no final arrangement fee charged by us for organising the overseas
mortgage
- At no cost, can internally pre-qualify your application financially, thereby saving
any wasted inspection flights
- Can save you time and costs (ie: phone, fax and postage) in both exploring and finding
a possible lender
- In-house processing and dedicated underwriting team for each country ? who are fully
aware of what documentation the lender requires, their lending criteria and how
to present the application, which ensures a faster mortgage offer
- The use of our extensive database of other relevant professionals such as lawyers,
surveyors, currency exchange and offshore company formation experts
Contact Us For a Quote
Contact us with your requirements to receive a quotation on mortgage facilities from
over 8,500 UK providers or a select number of overseas banks and mortgage facilitators.
Overseas Mortgage Deals