MORTGAGES FOR OVERSEAS RESIDENTIAL PROPERTIES
We’ve helped hundreds of people get overseas mortgages for residential properties over the last 35 years
A whole world of possibilities
Have you chosen where you’d like to buy your next overseas property yet?
Interest in purchasing a property overseas has greatly increased over the last couple of years, with popular areas such as Spain, France, Portugal, Italy and parts of the USA showing an increase in sales.
As well as past repossessions, other secondhand properties and new builds, there is an increasing choice available to suit all purposes, including holiday, investment and eventual retirement.
Not sure where you could buy a house? Here is a handy list of top destinations where overseas mortgages are typically available.
If purchasing by cash is not an option, then raising a mortgage secured against the property could be an ideal alternative, especially if you utilise the services of an independent bank, not linked to the selling agent, development and/or property. They may also be able to assist with confirming the legality and valuation of the property that is being used as security.
Overseas mortgages are currently possible through our lending sources secured against properties in the following countries/areas (the minimum and maximum amount will depend on the chosen country, purchase price/valuation and your overall personal financial profile, noting that loans less than £50,000 are only considered on a case-by-case basis):
Americas & The Caribbean
British Virgin Islands
Trinidad and Tobago
Asia & Oceania
Middle East & Africa
Please note some countries may be subject to minimum lending criteria.
Please note that not all individual dependencies are shown for the Caribbean, but assume all areas are covered.
Plus, if a country is not shown, it is always worth contacting us to check if the situation has changed, OR if it is for a large loan (ie: over £1 million) we can, through our lending sources, sometimes arrange these types of overseas mortgages on a case-by-case basis regardless of country (except if it is a war-torn or dubious country), subject to the type/valuation of the property and client’s financial circumstances etc.
Loan to value, interest rates and other lending criteria do vary depending on your own personal financial status, type and value of the property, location, loan size and whether you are borrowing/purchasing in your own name or a local or offshore company name.
Example maximum loan to values include:
France = 80% – 85%
Italy = 60%
Portugal = 80%
Spain = 70%
USA = 70% – 75% (dependent on which State)
Free Overseas Mortgage Assessment
If you require a mortgage for financing your overseas property, please complete our questionnaire and we will let you know if we can assist further.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. Simon Conn is registered under the approved persons regime with the Financial Conduct Authority under individual reference number SLC00026. Please note, that the FCA does not regulate all forms of mortgage activity. It is important to note that Buy-to-Let Mortgages (unless more than 40% owner occupied), Commercial Mortgages and mortgages secured on property outside the UK are not covered by statutory UK regulation. If a mortgage is denominated in a currency other than your home currency, there is a risk that changes in the exchange rate may increase the equivalent value of the debt in terms of your home currency.
We will provide you with a free initial consultation and we will always explain exactly what you will be charged before you choose to proceed with an application. As we offer a bespoke service our charges can vary and the actual amount payable will be shown on any eventual quote and will depend on the country where you require finance, who arranges the finance for you, plus your personal circumstances and loan requirements. It is important that you seek independent legal and taxation advice on any property that you are going to purchase.