Tips for Buying Property Abroad
- Nick Oliver
- Sep 15, 2017
- 2 min read
There are, of course, similarities to buying a property abroad as there is in buying property within the UK, but it is important to understand the key differences if you are thinking of making that step. Central Mortgages has a wealth of experience and connections in many different countries, making it easier for you to secure funding to purchase property in a foreign country.
What do you need to consider when embarking on a property purchase abroad?
Where to Get Your Mortgage b In some cases it might still be viable to secure a mortgage for your property in the UK, however this isnbt always practical as a traditional high street bank will only provide a mortgage for a country where they have a presence.
Mortgage Rates b standard mortgage rates can differ drastically from country to country, and although you may find lending rates lower in the country of your choice, you might also face resistance from local lenders in the form of higher deposits or higher rates of borrowing.
Exchange Rates b On top of that, you have to be aware of how fluctuating exchange rates can impact on the value of the property and the cash you are using for both deposits and repayment terms for the mortgage. If you are going to spend more money in real terms by securing a mortgage in a different country to the UK, it is better than you understand that prior to completing a purchase on a property.
If you are considering purchasing property abroad there is help available to secure the funding that you require to push through the transaction. The team at Central Mortgages has the experience of dealing with property purchases the world over, continually adding to our portfolio with 1000s of specialists as part of our team. If you are looking for competitive and exclusive lending terms you are in the right place. Give our team a call today on 01277 630183 and webll be happy to offer expert advice and guidance on buying a property abroad.
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