International Mortgages

We specialize in offering mortgage advice to British expatriates and foreign nationals purchasing property worldwide, whether this be for main residence, second home or investment. We act as mort-gage brokers to find you the most suitable and competitive mortgage program.

When considering the purchase of a property overseas, preparation is the key. The first thing that should be established is the budget available. Deposits required, current and future exchange rates, total cost of finance, legal fees and tax obligations, should all be calculated before viewing any potential properties.

Our Buying Guides will give you a breakdown of the whole process of purchasing a property in your chosen location, who is involved and the timescales.

Many sellers will not accept an offer, unless it can be proven funding is in place or has been Pre-Approved. For the purchase of a re-sale property, the closing date will typically be set at 30-45 days after the signing of the sales contract, and some contracts may impose financial penalties for late closing/completion. Appointing a lawyer, who is qualified in local law, may pay dividends at this stage.

Mortgages on property abroad are normally available to a maximum of 70% loan to value and for up to 30 years, although there are exceptions to this. There are not normally age restrictions on mortgages on US property, however for some other countries the term may be to age 70 or 75. Mortgages are normally based on affordability and suitable proof of income will be required. As a rule, the debt-to-income ratio should not exceed 36%, although there are exceptions to this. For some loans, limited documentation is required.

The mortgage secured against the property, can be in local currency, or in some cases multi-currency mortgages are available. The currency in which the mortgage is arranged would normally be deter-mined by the currency of the income being used to fund it. A qualified representative will go through the options and advise on which is the most suitable mortgage program.

For a no-obligation consultation please contact us on
email info@skylightventuregroup.com
Tel 00 (90) 548 825 64 61
www.skylightventuregroup.com