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Mortgage Advisor & Director
How to get an overseas mortgage
In many cases, it can be more complicated to purchase a property abroad, and we would recommend using an experienced broker to help you get an overseas mortgage.
By engaging a UK-based mortgage broker who specialises in overseas mortgages, you can avoid many of the pitfalls involved and make sure the process is as straightforward and stress-free as possible.
Our team of experienced advisors have helped many people like you to get the best deal possible on their overseas mortgage. Put our team to the test by filling out our simple online form now. Or carry on reading to learn more!
Can I get an overseas mortgage?
It is possible to get an overseas mortgage. Be mindful that it is likely to be less straightforward than buying a house in the UK, and that local regulations, taxes, licenses, customs etc. will play a role.
The planned use of the property will influence the type of mortgage you can get. If you are buying the property as a second home, it will be more straightforward than it would be if you're looking for a buy-to-let property. Be mindful to consider security and maintenance of the property if you are not around to visit often.
As with buying a house in the UK, there are a few other factors that may complicate the process:
- The property is of unusual construction
- Your income is non-standard
- You're an expat buying aboard
- You don't have an in-country bank account
By using a UK-based mortgage broker for your overseas mortgage, your mortgage will come under the protection of UK regulatory bodies including the FCA and Financial Ombudsman.
Can I get an overseas mortgage with bad credit?
There are a multitude of reasons why you may have a bad credit history.
Ranging from missed payments through to CCJs and IVAs, not all bad credit is treated equally in the eyes of lenders. The severity and age of the bad credit are taken into account, with each application judged on a case-by-case basis. Our advisors will be able to help.
If you start your overseas mortgage journey by approaching multiple lenders, you may find that your credit record is impacted negatively. This could make it more challenging to secure a mortgage in the future; another reason to engage a specialist mortgage broker!
Overseas mortgage considerations
Remember to account for exchange rate fluctuations.
If there are changes to the currency exchange rate, this will influence the sale price and how much you end up paying in monthly repayments. Specialist mortgage brokers will be able to advise on mitigation tactics.
You may consider using a recommended local solicitor and accountant to streamline the process.
How can I learn more?
Our team of mortgage advisors are experienced in helping people who are looking for an overseas mortgage. We have access to hundreds of specialist lenders and thousands of mortgages and can help you to find the best deal possible.
To get started, complete our simple online form today!
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
