Overseas Mortgages

If you are buying an overseas residential property, whether as a holiday or retirement home, or to live in permanently, or just as an investment, it is usual that you will have to pay for your property in a foreign currency and that you will require financing to complete the purchase.

Our mortgage advisers can offer you an excellent choice of overseas mortgages (including lending for expatriates and non UK nationals in the UK) with some fantastic deals through our extended panel of overseas mortgage providers.

Whether it's a second home, a holiday home, a retirement home or an investment property that you are looking to buy, we can help.

Our partners can arrange mortgage finance in the following countries:

Andorra, Australia, Bahamas, Barbados, Belize, BVI, Canada, Cayman Islands, Cyprus, Dubai, UAE, Dutch Antilles, France, Gibraltar, Greece, Israel, Italy, Jamaica, Malta, Mexico, New Zealand, Poland, Portugal, South Africa, Spain, St Lucia, Switzerland, Trinidad & Tobago, Turks & Caicos, USA

Useful considerations in buying property overseas

Before proceeding with any overseas property purchase (especially a resale property), ensure that you arrange for an independent valuation and survey of the property, which should also indicate any problems and defects.

You should never sign a property purchase contract that you do not understand or if it is in a foreign language which you do not know.

You should seek specialist advice from local or specialist solicitors and surveyors before considering a purchase overseas. They should be proficient in the country's local laws and legal processes and also know the detailed mechanics involved in buying a property.

You must also ensure that do not inherit any debt on the property before you agree to purchase it, and have this verified by a solicitor. The local developer may have borrowed money to build the development which has been allocated against each plot as additional security pledged to the developer's lending bank. This secured debt must be discharged prior to completion of the purchase.

If you see a really must-have property whilst on holiday, always allow yourself a cooling off` period before putting down a deposit. Never sign any contract without proper legal advice.

If you need to arrange finance to purchase the property, ensure that this is stated in any purchase contract and you have an 'opt-out clause' if the loan is not agreed (which will ensure that any deposit paid is refunded).

If possible, try to arrange your mortgage finance 'in principle', before agreeing to purchase the property, or before signing any contracts and paying over a deposit.

Think about arranging your mortgage in the currency of the country where the property is located. If you decide to borrow in your home currency, then you will have an exchange risk exposure between the value of the (home) property mortgage and the local currency value of the overseas property, when translated into your home currency.

You will need to calculate the total cost of purchase which will include additional sums, not just the asking price, such as solicitor's fees, taxes, insurance etc in the overseas country and these can be more expensive than anticipated. Ask the local estate agent and vendor about all these costs/

In some countries (e.g. with exchange control regulations), you may need to obtain a Certificate of Foreign Currency Importation for the funds you bring in from your home country.

You should open a local bank account in your chosen country and set up standing orders to pay ongoing running costs and taxes. Failure to pay your taxes in some countries, such as Spain, Portugal, France, and the USA, could lead to court action and possible forfeiture of your property.

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