Buying property abroad

raveydv

Hi,

I am looking to buy a property abroad with my partner, but we are in a quandry over money lenders. Few lenders seem to loan money in this country for properties abroad and lenders in the target country require complicated/difficult to procure information.

I was just wondering if anybody has any experience of this topic, or whether they can advise of any lenders or which is the cheapest way to go etc. (basically - any advice welcomed).

We would be looking to borrow somewhere in the region of 25 - 30 000 pound mark, to add to some savings we have, which would bring us up to a reasonable figure for a decent property in our chosen area, so were thinking that maybe a loan over 5-6 years might be the way to go rather than a mortgage, but are unsure?

I would be happy to hear from anyone with advice, either via this forum or by email direct - many thanks!

Dave

Madmel

My sister bought a property in Spain with a Halifax mortgage. Sorry I have no other info about it, but I know Halifax have a department who deal with this. HTH

Rick62

Dave, you don't say which country?

Often borrowing abroad can be more expensive and complicated than you would be used to in the UK. If you can raise the money in the UK this might be a better option, particularly if you only need £25-30k. You could consider remortgaging your UK home, or taking a secured loan.

raveydv

Thanks Madmel, shall look into Halifax via web!

Rick62 - Thanks, country in question is Slovakia, unfortunately I do not have a property here to remortgage, I rent currently, but as I said, we have some cash stashed away. Yeah, I thought that obtaining cash here would be best option, it's just a question of how. An unsecured loan of around 25k should only cost < 500 per month, but would this be the cheapest option and I'm dubious as to whether I/we'd get one...?