Financing an Overseas Mortgage from a UK Lender

Some people like the idea of living abroad. This might be to make the most out of retirement, to build a full career and life in a different country, or as a second home that can be rented out to holidaymakers throughout the year but kept for personal holidays too. If you are interested in an overseas mortgage can you finance it through a UK mortgage lender?

The answer is yes.

There is an international mortgage service at all of the main, traditional high street banks in the UK, and beyond that there are lenders in the market that can offer assistance to people from many different financial footings and backgrounds.

It is important to find help from a mortgage service that understands the nuances and intricacies of the legality behind mortgages in different countries, as it will vary from one country to the next. You might find it quite straightforward to get a mortgage in France or Spain, but if you are looking to buy property further afield you could find complications.

It is likely that you’ll have to be ready with a larger deposit for an overseas mortgage than you would for a standard UK mortgage. For instance, in Spain overseas buyers are generally expected to pay a 30-40% deposit on a property price. The deposit amount will differ according to the legal system and the custom in each country however, and that is why it is vital that you have a team behind you that understands these potential obstacles and how to overcome them.

At Central Mortgages we have access to a wide range of mortgages for people of all backgrounds and financial situations. If you are looking for an overseas mortgage we can certainly help you find the right lender to suit the specific terms of the country you are looking to purchase a property in. To find out more contact the friendly Central Mortgages team on 01277 630 183 or office@centralmortgages.net.