Mortgages for Foreign Property
Our Mortgage Service - helping you make the right decision
"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support.
As your mortgage is such an important transaction, good advice is imperative.
"We know that the internet is the first port of call for many people when looking for mortgage solutions; our view is, yes use the internet to do your own research , but then bring it to us and we’ll let you know how your findings compare and then give you the information and advice you need - so that you can make the right decision for your future.” Adam Arnott, Head of Mortgages & Protection
Compare Mortgages for Foreign Property
If you want to get a mortgage for a foreign property you have a variety of options for financing the purchase. Many British citizens buying overseas choose to remortgage their current property to fund the purchase of a second home overseas, but this may not be the right option for everyone. If you want to get a mortgage for a foreign property, you have two options:
Your first option when it comes to getting mortgages for foreign property is to borrow from a UK mortgage lender. Some UK mortgage providers have foreign offices so you could benefit from the convenience of arranging the mortgaging in the country in which you are buying the property, without missing out on the protection of the FCA.
Your second option for getting a mortgage abroad is to approach a specialist mortgage broker abroad. Bear in mind that unless specified other wise, overseas mortgage brokers will not be regulated by the FCA.
One of the most important aspects concerning mortgage for foreign property is to make sure that the legal aspects of the mortgage process are thoroughly covered. This is especially important if you are buying a property in a country where the prevailing language is not English, as it’s easy to get into misunderstandings. The property purchasing process, particularly the legal aspects, are often quite different from those that you may be familiar with in the UK, so it is often a good idea to get the assistance of a bilingual mortgage specialist to help you with aspects of the purchase such as:
- Translating the legal documentation relating to the mortgage
- Carrying out work on your behalf in the country you are buying the property in, if you are unable to be there in person
- Flagging up and assisting with any problems that may arise when getting mortgage for foreign property, such as planning permission issues
If you are unsure about what mortgage product is suitable for you speak to our mortgage team on 0117 313 7780 or request a callback.