With the overseas market growing year on year, whether for investment, retirement or second home, we can advise on the best way of securing your dream overseas property whether taking out a re-mortgage on your existing property or taking out a second mortgage from a UK or overseas lender.

We are International Mortgage Brokers able to search the whole of the UK market place or take out a foreign property mortgage secured on your foreign home, re-mortgaging your UK property to free equity to fund the purchase of your overseas home.

However, although overseas mortgage products can seem very similar to UK mortgages, there are many other factors to consider, most notably local laws, taxation rules and other restrictions involved when a foreign national decides to buy a house.

• Never sign a contract that you do not understand or have not read (for example - if it is in a foreign language).
• Always ensure that you seek specialist advice from Independent Solicitors, Architects and Surveyors before considering a purchase overseas.
• Before proceeding with the purchase (and would especially apply to a re-sale property, regardless of age), ensure an Independent Valuation of the property is carried out, which should point out any problems or concerns with the property.
• Ensure you do not inherit a debt on the property before you purchase it, which a solicitor should be able to check for you.
• Always give yourself a `cooling off` period if you see a `must-have property` and are tempted to put down a deposit there and then.
• If you are arranging finance on the property, ensure that this is stated in any contract and you have an 'opt-out clause' if the loan is not agreed (which will ensure any deposit paid is refunded).
• Try to arrange your mortgage finance 'in principle', before agreeing to purchase the property, or before signing any contracts and paying over a deposit.
• Arrange your mortgage in the currency that you earn in where possible, unless you are going to receive rental income from that property in the local currency and then this may be a possible alternative option, dependent on the lender's criteria.
• Think about combining your cash with friends or family: it could bring a Villa with pool within your financial reach, rather than simply an Apartment.
• Check with the Estate Agent or vendor that you are aware of the costs charged by the legal and government authorities for purchasing a property in your chosen country.
• Open a bank account in your chosen country and ensure you get a Certificate of Importation for the money you bring in from your home country.
• Set up standing orders in a local bank account to meet bills and taxes. Failure to pay your taxes in some countries, such as France, Portugal and Spain, could lead to court action and possible seizure of your property.
• Remember that bills do not end at the asking price. Lawyer's fees, Taxes, Insurance etc must all be met in your host country and can often be more expensive.
  

The Financial Services Authority does not regulate Overseas Mortgages.