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Mortgages for Foreign Property Purchases
frase_2
Posts: 3 Newbie
I am a UK EX-PAT now living in the Cayman Islands, BWI.
A year ago I bought a property here but as an ex-pat get a bum deal on interest rates. I currently pay 10.25% APR.
Does anyone know of a mortgage lender in the UK that could finance this house at a lesser rate?
I have no assets in the UK to use as collateral but the Cayman Islands are a British Overseas Territory and so a lien could still be set against the property.
Thanks in advance
A year ago I bought a property here but as an ex-pat get a bum deal on interest rates. I currently pay 10.25% APR.
Does anyone know of a mortgage lender in the UK that could finance this house at a lesser rate?
I have no assets in the UK to use as collateral but the Cayman Islands are a British Overseas Territory and so a lien could still be set against the property.
Thanks in advance
0
Comments
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What about a UK international bank, such at Barclays International or Bank of Scotland International?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Basically no. If not assets in uk, big no no. No bank will give you a cheaper rate than that. That rate you are getting in that island is ok.
Unless you have something to secure with, you won't get the best interest rate. In life, nothing is for free.Motto: 'If you don't ask, you don't get!!'
Remember to say thank you to people who help you out!
Also, thank you to people who help me out.0
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