We are able to arrange mortgages for property overseas in over 40 countries as well as in the UK.
There are four ways to arrange a mortgage for overseas property:
- UK Mortgage on the overseas property
- UK Remortgage on UK property to release capital to buy overseas property
- Offshore Mortgage for example from the Isle of Man or Jersey on the overseas property
- Overseas Mortgage in the country you are buying the property
Do not forget the UK Time Zone may be different to your own.
Warning: Property Laws in different countries vary.
This is quite apparent in countries such as Spain, Greece, Portugal and the USA. If you purchase property abroad we recommend that you seek overseas mortgage legal advice from somebody experienced in that country.
Many overseas mortgage lenders expect deposits of between 20% and 40% of the purchase price. Be aware of this and additional legal costs and taxation costs when considering buying property overseas.
You may probably also have to make an overseas Will as your UK Will may or may not be effective in that country.