OVERSEAS MORTGAGES

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RATES & QUOTES
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ADVICE
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GUIDES
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Overseas mortgages

Finding a good mortgage in the UK is hard enough, but add in the complexity of buying abroad and things can be daunting for the inexperienced. If you’re thinking of buying a holiday home abroad, or any other type of overseas property, it’s advisable to do a lot of homework first.

Why? Because house buying procedures, along with legal processes and local regulations vary enormously from one country to another. Being armed with plenty of knowledge before you take the plunge could therefore pay dividends in the long run.

Things to know about overseas mortgages and buying abroad

Arranging an overseas mortgage via a UK specialist broker is a sensible option – going it alone and approaching a foreign lender for a mortgage is likely to be a very difficult road, unless you are very confident with the local language and legal system. The usual rules apply if buying property abroad, but should be applied even more stringently than if buying a property in the UK. For example:-

  • Take specialist advice from independent solicitors (with local country knowledge) which could help identify underlying problems such as boundary disputes or planning issues;
  • Ask solicitors to inspect legal contracts very carefully – especially where they have been translated from a foreign language – important clauses can often be hidden or ambiguous with overseas contracts;
  • Obtain an independent valuation to understand the true market worth of the property before committing to any purchase.

It doesn’t have to be a mortgage on your first property abroad either, you might need an overseas remortgage for a property you already own abroad, and mortgages to finance investment property in foreign countries are also available. See the Mortgage Buzz overseas mortgage guide for further advice and tips.

Overseas mortgages – quotes and advice

Don’t go it alone, unless you are highly confident of your language abilities and local knowledge.

Mortgage Buzz is pleased to provide free, whole of market quotes and overseas mortgage comparisonsalong with access to FSA authorised mortgage advisers withbknowledge of overseas mortgage products to help you find the right deal. Just fill in our simple form and we’ll do the rest.

 

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