Buying Abroad - Mortgages

Mr_Incredible

So I'm looking at buying a holiday home to rent out while not there.

I could re-mortgage my existing home which comes up for renewal in August.

But what are the typical lenders terms if I wanted to get a mortgage against it?

stayz

Dont do it........, not referring to the mortgage, just the rest of the hassles that comes with buying or renting out a property so far from home! Be warned!!!

silvercar

Remortgaging your existing home is just a matter of convincing the lender you can afford the repayments, your credit rating and the equity in the property. Much easier than a foreign loan and cheaper.

Thrugelmir

silvercar wrote: »

Remortgaging your existing home is just a matter of convincing the lender you can afford the repayments,

Lenders may not be interested in lending for such a purpose.

amnblog

Terms are about your ability to pay the extra mortgage and the equity in your home sufficient to cover it.