Mortgages and Finance
When looking to finance a property whether it’s an overseas lifestyle or a UK Buy-To-Let investment property, unless you are experienced in property financing/mortgages, it’s important you engage with an experienced financial advisor who will make the process of financing your property a lot less stressful and a whole lot easier.
They will have all the information on the latest deals the various banks/lenders in each country are offering at that time. The advisor will always aim to search for a product thatbest suits your specific requirements.
When buying your property the LTV (loan to value) can differ from each lender as well as each country, it may be possible to get over80% LTV of the property, but some can be quite a bit less around 60% LTV.
It’s always a good idea to get an indication of how much you can borrow before you go too far down the line with your property search as this could influence what and where you buy.
MORTGAGES – THINGS YOU SHOULD KNOW
A few things you should consider when searching for your mortgage,
- Look for the mortgage, which is most appropriate for your needs, don’t exceed your limit.
- Compare the various interest rates and repayment period the fees for setting up the mortgage.
- Be aware of the repayment and cancellation fees, these will vary between lenders.
- Make sure you fully understand the mortgage agreement you sign.
- Consider the impact of fluctuations of the local currency against Pounds Sterling and how any changes may affect your interest rate rises on your repayments.
If you would like assistance is this area we can recommend one of ourqualified independent financial partners who are respected in their field and we can guarantee they will offer exceptional advice when it comes to financing your new property.