UK lenders for foreign mortgages.

monkeydust_2

Looking to buy a property in Bratislava, Slovakia. Does anyone know of any UK based lenders that would provide a UK (£) mortgage for a foreign purchase?

Tried Alexander Hall but they were no help whatsoever.

Thanks

Winston_the_Dog

Monkeydust,

The mortgage interest rate in Slovakia is currently 3.99% and the application procedure is about the same as here although I think that may be only available to Slovak nationals.

Some of the banks have "special" mortgages for foreign investors, don't know too much about them but here is a site that may help..

http://www.slovakinvestments.com/content.asp

monkeydust_2

Thanks winston, as a foreigner you are looking at around 4.5-5.5% for a 25 yr (70%) mortgage, which is something on par with a UK mortgage plus I dont have to worry about the FX risk on my repayments.

Winston_the_Dog

I have a Slovakian fiance so can get the better deal. They also run a sort of high interest saving scheme over there specifically for house/land purchases which at the end of the term allows a discounted mortgage.

The flat rate of 19% tax they have is an excellent idea an can see that catching on in other foward thinking countries, guess that rules the UK out!

If your seriously considering buying over there, have a look at the High Tatras region close to Poprad. There's some amazing bargins to be had and SkyEurope will be flying Standstead to Poprad from December this year so once the skiing fraternity catch on the prices are going to rocket. Although Bratislava is still cheap (by London standards) the prices have gone up drastically in the last three years and may not go up that much more in the short term. Still at least your practically guranteed year round rental income in the capital.