FISCUS MORTGAGES - INFORMATION AND ADVICE

Mortgage for a Property Overseas

There are many reasons that people choose to purchase a property overseas. Typical motives usually revolve around the purchase of a holiday home or the acquisition of overseas property as an investment. With the recent appreciation of sterling, there is an even greater incentive for individuals to now buy foreign property.

When it comes to financing such a home purchase, there are two basic forms of borrowing:

- Foreign Property Mortgage - Take out a mortgage on the foreign property itself. This could be from a UK mortgage provider or from a lender based in the same country as the property in question.

- Remortgage existing UK property – This can free equity to fund the purchase of the overseas property.

However, although overseas mortgage products can seem very similar to UK mortgages, there are many other factors to consider, most notably local laws, taxation rules and other restrictions involved when a foreign national decides to buy a house.

As these rules vary from country-to-country, we have broken down our overseas property to provide information on the various facets of property purchase in different countries:

EUROPEAN UNION (EU) COUNTRIES:

Spanish Bank Bankinter

- About Bankinter

- Bankinter's products

USA:

Rest of the World:

With all complex financial products, such as overseas property funding, we advise against making your decision based solely on the information you have read. Your best option is to speak to an Independent Financial Adviser (IFA) who can find the deals that are best suited to your individual circumstances. If you would like to speak to one of our IFAs, please complete our short mortgage enquiry form and we will have one contact you within 24 hours.