Overseas Mortgage
When buying a property in a foreign country you will need to call on the expertise of a professional. Mayfair Consulting has a tam of consultants experienced in foreign property purchase and international mortgage advice.
Mayfair Consulting can arrange finance throughout the UK and across Europe, in the Caribbean and the US. Being fully independent means we can source all lenders giving the client the best rates and most appropriate product based on their needs and preferences. This enables us to give the best advise.
Whether you are employed, self-employed or retired, we can raise the finance you need in the country of purchase or via the UK through tailored solutions specifically designed to meet your needs.
Steps to purchasing an international property
- Calculate your budget
- Get an agreement in principle - lenders will tell you whether you qualify for a mortgage and how much you can borrow even before you make a formal application.
- Find a property - You must seek independent legal advice before putting down a deposit or signing anything.
- Make an offer on the property and if accepted proceed to a full mortgage application.
- Valuation: The lender will require a surveyor to value the property. This takes place once a mortgage application has been submitted.
- Completion: A date will be set for you to complete. You will have the property on completion.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The overall cost for comparison is 7.1% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. There may be a fee for the mortgage advice. The precise amount will depend on your circumstances, but we estimate it will be 1.5% of the loan amount with a minimum fee of £500 added on to the loan.
Mayfair Consulting Limited is an Appointed Representative of The Mortgage Times Group Limited, 279 Tottenham Court Road, London , W1T 7RJ , which is authorised and regulated by the Financial Services Authority no. 303007.
