Overseas Mortgages
If you are looking for that place in the sun to own, then an overseas mortgage may be your solution to this dream.
We take the hassle out of overseas mortgages, using our extensive contact base, and professional associations just for our overseas mortgage customers. If you’ve ever tried to arrange any type of finance in another country, you know it’s not an easy proposition. We avoid involvement with foreign legal systems and stop hidden charges by arranging your overseas mortgage from the UK.
Whether you’re looking for a French mortgage or somewhere more far flung we’ve helped secure finance for properties here, there and almost everywhere.
We make the process of getting a mortgage a lot less stressful and a whole lot easier.
To discuss further on overseas mortgages,
Please call and speak to one of our advisors.
TEL: 01257-441580
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Case Study
Overseas
Releasing equity on a property with no mortgage to refurbish another property is not especially complicated in and of itself but when the properties are separated by the English Channel, a layer of complexity is definitely added!
We were recently approached by a 45-year-old Irish national looking to do just this. Our client lived in the South of France, but owned a buy to let property in the UK with no mortgage. He was looking to renovate and extend his home in France using the equity in his UK property. Having searched online for a suitable broker, he approached us for a conversation about how we could help. His work as a high court judge meant he was extremely busy, so he needed a broker who could work around his needs.
He was looking to do quite extensive works on his property, including internal works, garden landscaping and a basement conversion. His London property was valued at £750,000 and was rented out for £1200 per month.
He was already aware that he would struggle with approaching high street lenders because he was now living outside of the UK. He also had a limited time to arrange this finance, as he hoped to begin the works very soon.
OUR SOLUTION
Fortunately, we managed to refer this case to an associate who specialises in foreign mortgages and has access to the whole of the lender market and they were able to source the best lender for the client.
FAQ’s
How Much Can I Borrow?
This will differ from lender to lender, some will use affordability calculators, whilst other lenders use income multiples. With an ever- changing mortgage market a lenders criteria will change, so we will need to review your circumstances to determine which lender will be best for you.
How Long Does It Take To Get An Agreement In Principle For A mortgage?
In most cases 1-24 hours. Once you’ve received an agreement, you’re ready to buy a property.
Explain The Level Of Service That Alexander Ross Mortgages Offers?
We’ll advise and make recommendations once we’ve assessed your needs. Everybody and each situation is different, but we’ve been through them all! Thriving economies, helping people with debt and CCJ’s, small business owners and we’re accomplished at helping our customers get the mortgages they need, in these tough financial times.
Is The Lowest Rate Mortgage Deal Always The Cheapest?
No, it’s not. When we’re recommending a mortgage deal, we’ll also look at the associated fee’s within the mortgage and build these factors in. We’ll give you the true cost of the deal. Our aim is to help you work though the benefits and drawbacks of all the deals on the table and work out the best for you.
How Long Will The Buying Process Take, From Placing A Mortgage Application, To Getting Our Keys?
Well this will be determined by the property that you are purchasing. If you purchase a vacant property and you’re not in a chain, then it would be possible to get you keys within 4-6 weeks. However, if the property you’re purchasing is in a long chain, the process could take up to 12-16 plus weeks.
What Else Do I need To Consider Once I’ve Had My Mortgage Agreed?
It is important to understand that this commitment is a serious one. You’ve made it for a variety of reasons, that other life factors may need to be taken into consideration. Your need for Life Assurance, Critical Illness, Income Protection, Accident Sickness & Unemployment, Home Insurance and Private Medical Insurance, all of which can be discussed in detail and can easily be arranged for you.
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