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mortgage for property abroad

bobsyerunkle
bobsyerunkle Posts: 92 Forumite
in Mortgages & endowments
Hi. Has anyone had experience with getting a mortgage for property abroad?

i'm guessing u have to pay huge interest rates and large deposits.

Thanks

Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Not if you have a property in the UK with plenty of equity
    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.
  • toonfish
    toonfish Posts: 1,260 Forumite
    bobsyerunkle wrote:
    Hi. Has anyone had experience with getting a mortgage for property abroad?

    i'm guessing u have to pay huge interest rates and large deposits.

    Thanks

    largish deposits, and all income need to be proven. Interest rates are generally lower though, depending on where you buy.
    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.



  • andrewbrydon
    andrewbrydon Posts: 165 Forumite
    It all depends where you're buying....
  • tidyfinance
    tidyfinance Posts: 106 Forumite
    I've been asking the very same question. We want to buy in Morocco. But while our rented uk flat is going up for sale this week, we would need £50-60K for our re-sale apartment in Morocco. We fear we'll lose it if we dont act fast. We are sure the flat will sell relatively quickly though, but you never know. It may well be that we would require this amount only very short term!
    It's just that the capital in the flat is required pretty damn quick!
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