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Overseas Mortgages

Mortgages for buying property abroad

If you are considering buying a property abroad you should make sure you take specialist mortgage advice. The house buying process varies considerably from country to country, with different legal systems and local customs.

For most people the best option is to arrange your overseas mortgage in the currency you earn income in. If however you are planning to receive rental income from your property in the local currency then a mortgage in the local currency may be the better option, depending on the mortgage lender's criteria.

If you already have a residential property in the UK you may be able to raise money for a deposit by remortgaging and releasing equity from this property.

Changes in the exchange rate may increase the sterling equivalent of your debt.

You may have to pay an Early Repayment Charge to your existing lender if you remortgage.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Call us today on 0845 22 42 162 or to request a call from your local professional mortgage advisor click here.

Tips for buying abroad

You should always seek specialist advice from independent solicitors, architects and surveyors before committing to purchasing a property overseas. They should know the country's laws and the local house buying process.

You should always arrange an independent valuation of the property. The valuation will highlight any problems with the property itself but also, and very importantly, any boundary disputes.

You should never sign a contract that you do not understand. This includes translated contracts - always get the original contract checked by a specialist.

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Typically a fee of £495 will be charged upon mortgage application but the exact amount of this fee will be dependent on your circumstances. Please contact us for full details.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Select Mortgages Solutions,
Regents Pavillion,
4 Summerhouse Road,
Northampton,
NN3 6BJ

Tel: 0845 22 42 162
Email: info@selectms.co.uk

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Select Mortgage Solutions is an appointed representative of Stonebridge Mortgage Solutions Limited which is authorised and regulated by the Financial Conduct Authority.
 
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