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!
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.
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