The level of demand for purchasing properties
overseas is increasing steadily as second home purchasing
becomes more popular, retirees re-locate out of the UK and
investors look for opportunities abroad.
The most popular destinations for purchasing
are Spain, France, Italy, Portugal, Switzerland, Greece
and the USA, although many purchasers, particularly investors,
are looking at developing markets such as Bulgaria and South
Africa.
The main lending alternatives that you have
when looking to purchase a foreign property are to either
borrow against a property you already own in the UK or to
borrow against the proposed foreign property. We will assist
you in helping to make a decision as to which method you
would prefer to take.
If your decision leads you to wanting to borrow
against the foreign property, we have built a close working
relationship with companies that specialise in purchasing
property abroad, both having networks of lenders across
the globe that can support your lending requirements across
more than 30 countries. We have also built relationships
with various lenders that are able to provide loans for
development projects in several locations worldwide.
Our fee for this service is up to
1% of the loan amount, typically this would be £595.
Your property may be repossessed
if you do not keep up repayments on your mortgage.
Openwork Limited offers insurance and investment
advice on products from a limited number of product providers
and advice on mortgages representative of the whole market.
International Mortgages are not regulated
by the Financial Services Authority.
