overseas-mortgages

Overseas Mortgages

If you are looking for that place in the sun to own then an overseas mortgage may be your solution to this dream.

We take the hassle out overseas mortgages, with our extensive contact base, and professional associations just for our overseas mortgage customers. If you’ve every tried to arrange any type of finance in another country, you know it’s not an easy proposition. We avoid involvement with foreign legal systems and stop hidden charges by arranging your overseas mortgage from the UK.

Whether you’re looking for a French mortgage or somewhere more far flung we’ve secured finance for properties here, these and almost everywhere.

We make the process of getting a mortgage a lot less stressful and a whole lot easier.

To discuss further on overseas mortgages,

Please call and speak to one of our advisors.

TEL:01257 441580

Case Example

Overseas

Releasing equity on an unencumbered property to refurbish another property is not especially complicated in and of itself—but when the properties are separated by the English Channel, a layer of complexity is definitely added!

We were recently approached by a 45-year-old Irish national looking to do just this. My client lived in the South of France, but owned an unencumbered buy to let property in the UK. He was looking to renovate and extend his home in France using the equity in his UK property. Having searched online for a suitable broker, he approached ourselves for a conversation about how we could help. His work as a high court judge meant he was extremely busy, so he needed a broker who could work around his needs.

He was looking to do quite extensive works on his property, including internal works, garden landscaping and a basement conversion. His London property was valued at £750,000 and was rented out for £1200 per month.

He was already aware that he would struggle with approaching high street lenders because he was now living outside of the UK. He also had a limited time to arrange this finance, as he hoped to begin the works very soon.

OUR SOLUTION

Fortunately, our access to the whole of the lender market meant I was able to source a lender who can provide finance for French residents. This lender used his UK income from the property, which simplified the process immensely. I secured a 2-year fixed rate of 3.6%, using my excellent relationship with this lender’s business development manager to ensure the application progressed smoothly.

Due to the clients busy work schedule and where he was based, it was important I was able to work round my client—I liaised with him via email and arranged all phone calls to be at his convenience. I always endeavour to provide an excellent level of service for all my clients, so if you are working across time zones, I will always strive to work to suit your timetable. If you feel you could benefit from a further discussion about releasing equity from your home, please don’t hesitate to get in touch and I would be delighted to help.

FAQ’s

How Much Can I Borrow?

This will differ from lender to lender, some will use affordability calculators, whilst other lenders use income multiples. With an ever changing mortgage market a lenders criteria will change, so we will need to review your circumstances to determine which lender will be best for you.

How Long Does It Take To Get An Agreement In Principle For A mortgage?

In most cases 1-24 hours. Once you’ve received an agreement you’re ready to buy a property.

Explain The Level Of Service That Alexander Ross Mortgages Offers?

We’ll advise and make recommendations once we’ve assessed your needs. Everybody and situation is different, but we’ve been through them all! Thriving economies, helping people with debt and CCJ’s, small business owners and we’re accomplished at helping our customers get the mortgages they need, in these tough financial times.

Is The Lowest Rate Mortgage Deal Always The Cheapest?

No, it’s not. When we’re recommending a mortgage deal, we’ll also look at the associated fee’s within the mortgage and build these factors in. We’ll give you the true cost of the deal. Our aim is to help you work though the benefits and drawbacks of all the deals on the table, and work out the best for you.

How Long Will The Buying Process Take, From Placing A Mortgage Application, To Getting Our Keys?

Well this will be determined by the property that you are purchasing. If you purchase a vacant property and your not in a chain then it would be possible to get you keys within 4-6 weeks. However, if the property you’re purchasing is in a long chain, the process could take up to 12-16 weeks.

What Else Do I need To Consider Once I’ve Had My Mortgage Agreed?

It is important to understand that this commitment is a serious one. You’ve made it for a variety of reasons, that other life factors may need to be taken into consideration. Your need for Life Assurance, Critical Illness, Income Protection, Accident Sickness & Unemployment, Home Insurance and Private Medical Insurance, all of which can be discussed in detail and can easily be arranged for you.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE
CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT