New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

Financial Services > Mortgages > Mortgages News

Warnings for consumers trying to find a mortgage abroad

Bookmark and Share
       

Trying to find a mortgage abroad could have pitfalls, experts warn.

According to consumer rights service Which?, the number of UK residents who have been able to find a mortgage overseas has grown enormously to well over a quarter of a million.

Mortgage lenders always have the security of knowing they could repossess a home or buy-to-let property if the mortgage payments are defaulted, but the consumers occasionally buy the property without adequate surveys and advice, warn Which?.

Jeremy Davis, author of Buying Property Abroad, comments: The TV shows that have helped fuel our obsession with overseas property make buying abroad look easy.

But in reality finding, purchasing and owning overseas can be a time-consuming business and turning a foreign property into a successful investment can be even more of a struggle.

Get it wrong and you could be risking a good chunk of your future security on a pipe dream.

The Association of Mortgage Intermediaries has recently released a factsheet entitled Thinking of Buying Abroad.

Currency risk for clients trying to find a mortgage outside the Sterling area, risk areas and key factors to be taken into account are detailed in the factsheet.

Bookmark and Share

Recommended Links

Copy and Paste the following HTML into your page.

Receive Mortgage Advice from a Regulated Advisor

Mortgage advice

There is no better time to be seeking suitable mortgage advice from a Regulated mortgage advisor

Submit your details today for an obligation-free chat and a regulated mortgage advisor will call you back to help you find the mortgage that best fits your needs.

We will only provide your details to one regulated advisor.

Your mortgage

 * Help
 * Help
 * Help
 Help
 Help
 *

About you

 *
 *
 *
 *
 *
 *
 *

Questions marked with * are required

Please be aware that the advisor who contacts you will be a third party advisor who has no connection with us. There is no charge to you for using this service. We are paid by charging your assigned advisor a fee for this service. Any advice or assistance given to you by a third party advisor does not represent our advice or assistance and is not checked or endorsed by us. It is your decision whether or not you act on any advice or assistance you are given.

By clicking “Proceed” you confirm that:

  • You accept our Terms of use; and
  • You would like to be contacted by a regulated third party advisor to discuss your needs.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Financial Services Net Limited and other trusted 3rd parties would like to keep you advised via e-mail or telephone of products, services and other exciting offers we think may interest you. Please untick this box if you do not consent to us contacting you for further information.

       
Mortgage lenders

Browse mortgage lender offersMortgage Rates by Lender

  • Browse current mortgage offers from over 90 lenders.

Worried about mortgage repayments?Worried about Mortgage Repayments?

  • Join our petition to Government to bail out burdened individuals, not just banks.

Free mortgage quoteFree Mortgage Quote

Mortgages in Scotland Mortgages in Scotland

Equity releaseEquity Release

  • Unlock equity in your home.

Switching mortgagesSwitching Mortgages

Home reversion plansHome Reversion Plans

Commercial mortgages Commercial Mortgages

  • Commercial property loans
  • Starting a business?

Arrears & CCJs?

  • Remortgages
  • Sub prime mortgages
  • Arrears, CCJs
  • Self certification
  • Debt consolidation

Protect your mortgageProtect Your Mortgage

  • 3 months free mortgage protection cover

Mortgage Newsletter