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Buying in hungary
Locornwall
Posts: 356 Forumite
My partner (Hungarian) and I are looking to buy a place in Hungary. She has somewhere already, which we will sell and buy in budapest.
I was wondering if anyone had experience of this?
Also, what taxes are involved UK side? We have a property here we pay a mortgage on. Will this further purchase influence that in terms remortgaging etc?
Many thanks.
I was wondering if anyone had experience of this?
Also, what taxes are involved UK side? We have a property here we pay a mortgage on. Will this further purchase influence that in terms remortgaging etc?
Many thanks.
0
Comments
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If you're getting a hugarian mortgage, the repayments will affect your affordability which will be considered if you remortgage with a different lender.
Will you be keeping your UK property as a your own residence or letting it?1 -
Keeping the UK property.
regarding financing the place in Hungary. We have some savings here and may take additional borrowing here.0 -
You'd be better to ask somewhere Hungarian for advice on that, we only really know about the UK aspects around here.Locornwall said:My partner (Hungarian) and I are looking to buy a place in Hungary. She has somewhere already, which we will sell and buy in budapest.
I was wondering if anyone had experience of this?1 -
Thanks, just wanted to get a perspective what are the implications in the UK? Remortgaging etc?0
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MaryNB said:Will you be keeping your UK property as a your own residence or letting it?Locornwall said:Keeping the UK property.The answer will affect your UK tax position, as well as the mortgage/remortgage position - that's why Mary asked.It will potentially open other cans of worms that people here can advise on, bit that takes the thread in another direction which might be useful to you, or might not interest you..
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Depending on bank, you can ask your UK bank where you have your current mortgage if they will give you a mortgage for it - their rates are likely to be much better than a Hungarian mortgage. I think it will be secured on your current UK property so all depends on what equity you have.
Budapest is amazing - do you plan to live half and half or permanently out there?1 -
My partner is Hungarian, so we go there several times a year. We may decide to rent it to students and then just spend summer and Christmas there.1
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