Buying a Second Property Abroad
There are numerous options available when buying property abroad. Therefore call us today and we will help guide you through the process and help you find the right mortgage.
Buying a Second Property in a foreign country is not the same as buying a property in the UK. There are different rules, tax laws and legal loopholes. It’s a big decision and it can involve a lot of hard work, often carried out at a distance.
There are two ways to finance the purchase of a foreign property, one option is to remortgage your UK home and purchase the new property outright, subject to sufficient equity. Or of course you can obtain another mortgage secured against the new property abroad, either from a foreign lender or one based in the UK that will accept security abroad. You could even combine both options, by initially raising a substantial deposit on your UK home, and obtaining the balance via a second mortgage on the new property abroad.
Call us today and allow our experienced mortgage advisers to advise you on your options and help you choose the right mortgage.
Changes in the exchange rate may increase the sterling equivalent of your debt.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Our typical fee for arranging your mortgage is £95.00. Depending on your circumstances, we may charge up to 1.5% of the mortgage amount.