International Mortgage
European Mortgages for UK Property Buyers Abroad
Because we receive so many enquiries from our British readers about the best way for them to go about getting a mortgage when buying a property abroad we have decided to dedicate a week’s worth of research and articles to examining fully the subject of European mortgages for UK property buyers abroad.
The four main European countries where British property buyers desire property are Spain, France, Italy and Portugal and these are the four markets we will be looking at all this week in our quest to provide the most comprehensive advice about European mortgages, international mortgages and British based mortgages to use when buying overseas real estate.
Buying Property Abroad and Paying For It
Buying property abroad offers an excellent and exciting investment potential that many Brits and others from around the world are tapping into. With major investment hotspots cropping up all over the world and stories of incredible returns abounding, many a would be buyer is likely to sit down and wonder just how an average person, without a huge bank account, might be able to buy into the growth potential.
In this article we’ll explore the possibilities for funding the dream of owning a holiday home abroad. Some expats and investors are drawn to very traditional methods for financing, but others have taken a more unique approach to the money issue. The reality of the matter is that financing does depend a lot on the country in question. Within some areas it is relatively easy to get financing from British lenders, including local banks and major lenders like Barclays. In other areas however, buyers might have to be a little more creative to ensure they have the cash on hand to pay for their purchases.
Using Your Overseas Property to Pay Off Your UK Mortgage
Well, well, well, the irony of it all! Who would have thought that there would come a day when you would be considering releasing the equity in your European second home to pay off your UK mortgage!
Gone are the days it seems when Brits were happily re-mortgaging their British property to buy a home in the sun; today greater numbers of us are more likely to be cashing in the money we have overseas in real estate to get a better mortgage deal on our principal residence back in the UK.