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We have access to many mortgage lenders and financial advisors and can help with arranging overseas mortgages in the UK or overseas. A Spanish mortgage or other foreign property mortgages are much easier to get than they were a few years ago with more mortgage lenders offering overseas mortgage products.
Subject to status 100% mortgages can be found. More common and more popular are mortgages at 70% - 80% loan to value.
Interest only mortgages are also increasingly available in Spain.
NEW INVESTOR MORTGAGE: we now have access to a 100% NON STATUS mortgage for buy-to-let property in Bulgaria. This is restricted to a select number of developments and the property in long term buy to let property and not holiday property i.e. for property investors. Contact us for more details.
Still the most popular method of raising finance for an overseas property purchase is from equity release from a property owned by a person in their Country of residence.
Through our professional mortgage partners we are able to offer our clients a finance solution that will allow them to identify the money they have available and be in a position to get it in time to put a deposit on a property.
By getting a mortgage in principal before visiting an overseas location clients can be in a position to purchase without having to actually take a loan or a mortgage i.e. the mortgage application is only completed and the money made available if/when it is required.
This is extremely beneficial for clients as the mortgage companies do not usually charge any fees for a decision/mortgage in principal and once in place money can usually be released in around 2 weeks. However, for this method to work clients MUST apply for and receive the mortgage in principal before visiting a location to look for overseas property. Contact us for more information or for a quote.
Foreign currency exchange will usually be required at some point in the process of buying overseas property. We suggest clients contact one of the foreign currency exchange specialists listed on this site to discuss all exchange requirements.
Currency Converter:
GUARANTEED RENTAL INCOME? For details of overseas properties that offer a guaranteed rent see: guaranteed rental properties.