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First time buyer - Abroad
franglay
Posts: 2 Newbie
Hello all, I am currently living with my Mother, and am hoping to buy a property in France, the problems is that it will be my first mortgage(U.K. included). I am trying to get some advice on the best route to take, the main points are as follows,
Amount needed - £80000
Earnings - £26000p.a.
Savings - little!
Debts - NONE
I am trying to get a reasonably high percentage mortgage (i.e. 80 or 90% of the property value) which I think would be a major pitfall should I try for a first time foreign mortgage?
My Mother (bless her cotton socks!) has suggested using part of her property (no mortgage) as equity, not wanting to go down the equity release route, I was thinking about me mortgaging £80000 of her property and using the money to purchase the French site.
Being completely new to the mortgage world could anyone offer any advice?
Many thanks.
Amount needed - £80000
Earnings - £26000p.a.
Savings - little!
Debts - NONE
I am trying to get a reasonably high percentage mortgage (i.e. 80 or 90% of the property value) which I think would be a major pitfall should I try for a first time foreign mortgage?
My Mother (bless her cotton socks!) has suggested using part of her property (no mortgage) as equity, not wanting to go down the equity release route, I was thinking about me mortgaging £80000 of her property and using the money to purchase the French site.
Being completely new to the mortgage world could anyone offer any advice?
Many thanks.
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