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Buying property in Africa - mortgage options
shamitmz
Posts: 1 Newbie
I'm a first time buyer who lives and works permanently in London however i grew up in Mozambique.
Recently, due to the discovery of gas, coil, oil and other natural resources, the country is undergoing a very fast growth with a number of businesses and people investing in the country.
Being from there and knowing the market, I'm planning to purchase a property in the country which have very high chances of doubling in price in a very short period of time. I'm planning to buy it and rent it for few short years until i decide to either sell it or continue renting, obviously the option that is more profitable.
The main high street banks (Natwest, Barclays, HSBC) are ready to provide me mortgage for a property in UK (due to my finances and very good credit history) however they do not provide a mortgage for a property in Africa.
Would anybody be able to advise me if there is a way i can borrow the money to buy the property as this will certainly help me step up in the ladder?
Recently, due to the discovery of gas, coil, oil and other natural resources, the country is undergoing a very fast growth with a number of businesses and people investing in the country.
Being from there and knowing the market, I'm planning to purchase a property in the country which have very high chances of doubling in price in a very short period of time. I'm planning to buy it and rent it for few short years until i decide to either sell it or continue renting, obviously the option that is more profitable.
The main high street banks (Natwest, Barclays, HSBC) are ready to provide me mortgage for a property in UK (due to my finances and very good credit history) however they do not provide a mortgage for a property in Africa.
Would anybody be able to advise me if there is a way i can borrow the money to buy the property as this will certainly help me step up in the ladder?
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