Securing the Best International Mortgage for Your Home in
Are you one of a growing number of people planning on buying a
holiday home in Spain?
Or have you decided to expatriate, buy a Spanish home and live
in it permanently?
If so, you may be about to begin your hunt for an
international mortgage to purchase real estate abroad?
The task of finding the best international mortgage can seem
like quite a daunting one at first glance with many domestic,
overseas and international providers vying for your business. But
don't panic! Tackle the task head on, ensure you secure yourself
the best possible international mortgage or property finance deal
today and you will save yourself tens of thousands in interest
payments over the lifetime of your mortgage.
You can begin your search for the best loans and repayment
vehicles online which should help to make the whole process more
convenient and time efficient for you, and this article will also
help make the search for the most ideal and personally suitable
finance method that much simpler.
There are five basic types of finance arrangement available
internationally; to enable you to determine which one suits you
and your circumstances best there follows a brief description of
1) International Mortgages
Depending on the country you're resident in and the country
you're considering buying property in some domestic lenders offer
international mortgages for overseas real estate purchase.
An example is Lloyds TSB in the UK which offers resident
Britons who already own a home in the UK an international
mortgage scheme specifically for the purchase of real estate in
The types of mortgage and repayment vehicles are standard to
the domestic country (e.g., UK or US) though there is often the
added criterion that the purchaser is already a home owner in the
local country and any mortgages available are only for up to 70%
of the purchase price.
2) Local Spanish Mortgages
As Spain is largely geared to the foreign property buyer it's
often possible to raise a mortgage locally in Spain especially
when you approach one of the larger international bank's
subsidiaries. It's still important to make sure you understand
the local terms and conditions of the loan and the repayment
vehicle as well as checking and comparing the interest rates
available to you with those available from an international
lender 'back home.'
3) Expatriate Mortgages
If you're already an expatriate whether in Spain or another
overseas country and you want to buy in Spain or you're
interested in buying a home in your originating country for
investment purposes or as a base for you to return to at some
point in the future, it can be tricky to secure a mortgage.
If you had a strong credit history before you expatriated and
you're now in receipt of income to support your mortgage
application there are a number of lenders specifically interested
in attracting expatriate business though. Some of the major high
street lenders will charge you a bit of a premium for the ease of
application and service they offer and it's actually worth while
shopping round on the internet to see who else is offering
specific expatriate mortgages.
Usually you should be able to borrow up to 85% of the
property's value and when it comes to proof of income this can be
made up of earned, pension, investment and rental income.
4) Equity Release and Second Mortgages
This is of course the simplest and most popular method being
used currently for the purchase of holiday homes overseas by many
buyers. In the UK especially, where the housing market has
significantly strengthened over the last 5 - 7 years, many people
have built up substantial equity in their homes and are now
releasing this 'extra money' to purchase property in Spain in
If you consider this method you must accept that the
additional sum you add to your mortgage will incur interest, it
will have to be repaid over the term or at the end of the term of
your mortgage and that the whole loan is secured on your main
5) Installment Payments
You might like to consider purchasing property off plan as
this can give you the option to pay for the real estate via a
series of installments or stage payments that you can save up to
fund during the build period.
After paying the securing deposit your installment dates and
amounts will be written into your purchase contract enabling you
to budget accordingly. Clearly this method would particularly
suit those with a high level of disposable income.
Once you have determined the most suitable method to suit your
requirements and circumstances you can begin your search for a
lender if applicable. Consider searching the internet, using
forums, expatriate and international property sites, examining
lenders sites and you can also listen to personal recommendations
from friends, family and colleagues who have already undertaken
property purchases in Spain.
Rhiannon Williamson is the publisher of http://www.shelteroffshore.com
- the online resource for investment property abroad, offshore
investing and living overseas articles, guides and resources.
Click the following link for Spanish
property and moving to Spain articles, guides, resources and
MORE RESOURCES updated Thu. January / 18 / 2018
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
Cruel Ways Big Banks Are Ripping Off Their CustomersTheStreet.combased Born to Sell, recently applied for a mortgage refinance loan at Citibank (C) . Little did he know that he'd get the short end of the stick, and in a big way. Scanlin checked every item off on the mortgage process list, paid $15.85 to have a ...
West Is Best for Credit Union GrowthCredit Union TimesA tight labor market. Employers are having increasing difficulty finding workers, which will be a limiting factor for the economy. A sellers' housing market. The supply of homes in most markets are reaching historic lows and could tighten further as ...
RELATED MORTGAGE AND REFINANCING ARTICLES:
Kings Bay Georgia
When choosing the right mortgage company for your home
purchase or refinancing, there are a few things to
consider.What is this lenders reputation? Does this lender
have a proven track record in the community and can they
offer you not only the lowest interest rates available, but
design a program to fit your needs and counsel you about
your home purchase.
Mortgage Loans For
People With Adverse Credit - How Much Should You
"How much should you borrow?" is a question people with
adverse credit wrestle with. The answer is simply as much
as you can afford.
How to Get a Cheap
If you're looking for a cheap homeowner loan, you might be
wondering what you can do to reduce the amount that you
have to pay. The simplest answer lies in two things?
shopping around to find the lender that offers the lowest
interest rates on a cheap homeowner loan, and maximizing
the value of your loan against the equity in your home
that's being used as collateral.
Home Equity Loans
Most borrowers fail to realize that when trading their much
beloved home for cash, lenders can foreclose on their
property in the case of default. Moreover, because of
fly-by-night operators who are ready to strip unsuspecting
borrowers of their most prized asset, it is doubly
necessary that borrowers be familiar with some frauds that
could be perpetrated on them.
5 Home Buying
Purchasing a home involves certain important, even
essential, steps that every buyer should take before
closing on a purchase. Let's examine these "essentials"
which, if properly implemented, can help you save valuable
time and aggravation.
Home Equity - Let the
Market Eliminate Your Private Mortgage
In decades past, most people who were interested in
obtaining a home loan were required to put down at least
20% of the purchase price. Those days are gone, and as home
prices have risen faster than incomes, the average down
payment required by lenders has dropped.
The Real Truth About
Those: Online Get a Better Loan Web Sites - 6 Things to
You have seen the Commercials on TV go this or that web
Site and Refinance your Home and Save thousands. Tempting
isn't it? Do they really save you money?But what if you
need help or Advice? What if you have questions? Can an
online Internet Robot Design a Mortgage Plan customized for
your unique situation.
Looking for home mortgage loans can get confusing with the
alphabet soup of mortgage loans programs available today.
Most of these programs are just variations of fixed rate
and adjustable rate mortgage loans.
A Guide to Getting Bad
Credit Home Improvement Loans
You might be wanting to look into bad credit home
improvement loans but are unsure of where to start. After
all, how do you get a good loan when your credit isn't the
greatest?What you probably don't realize is that there are
a number of lenders who offer bad credit home improvement
loans, which use the equity of your home or other real
estate to determine the amount of the loan with no
additional collateral needed.
Buying a Home With Bad
Credit - Tips on Finding the Right Broker or
You can buy a home with a bad credit record; you just need
to find the right mortgage financing package. Before you
sign up with the first company that offers you a loan,
remember to research offers to be assured you are getting a
Why a Mortgage
Professional Beats a Banker Every Time -- The Story Tells
The best way to explain why a mortgage professional is
always better than a banker is to use an anecdote. My
parents lived in the house I grew up in for 35 years, so it
was finally time to move.
No Money Down Mortgage
Loans - Ways To Get Approved For a Home Loan Online With
No money down mortgage loans enabled more people to own
their own home. The following ways will help you get
approved for a home loan online with zero down.
Home Equity Line of
Credit or Second Mortgage Loan Online - Things To Do With
Your Homes Equity
If you are wanting to get a home equity loan, rates are
still low enough that you may want to make use of that
equity in your home. Do you need some ideas on what you
could do to multiply your equity or make some extra money
off of the capital that could be available to you? Here are
some suggestions of ways to put the equity to good use when
you go to take out a home equity or cash out refinance
Some Mortgage Loans are
Available with Absolutely no Money Needed From
Today, FHA will loan up to 97 percent of the purchase price
of a home, meaning a borrower only needs 3 percent. The
three percent down payment can come in the form of a gift,
and closing costs can be financed into the loan, making
this a true no money out of pocket purchase transaction.
Sound Financial Standing
Entails Capital Raising Remortgage
Raising capital is integral for growth and expansion of an
individual in more than one way. Every project and venture
is meant to contribute in some way to the augmentation of
Bad Credit? With Poor
Credit You Can Still Refinance Or Get A Home Equity Line Of
Have you decided to refinance your home or apply for a home
equity line of credit but worry about your credit rating?
Even with poor credit it is possible to refinance your
existing mortgage or obtain a home equity line of credit.
New practices in the lending industry have made it easier
than ever for you to refinance your mortgage or get a home
equity line of credit.
Comparing The True Cost
Of Obtaining A Home Loan
Home buyers are often confused about where to begin in
their search for a home loan. The process is usually
narrowed down to finding which institutions provide the
lowest settlement costs, but the different types of lending
institutions and the variety of lending programs available
can make the search a slow, difficult experience.
First Time Home Buyer
Loans Made Easy
When it comes to first time home buyer loans, a little
research can save you thousands of dollars over the life of
your mortgage. A wise consumer selects a mortgage lender
prior to shopping for a home.
Mortgage Terminology for
the First Time Home Buyer
Buying a Home for the first time can be a little "nerve
racking". Mortgage terminology that brokers use everyday
can leave you scratching your head or shaking your head
pretending that you know what they're talking about.
Subprime Mortgage Loans
Online - What To Expect
Applying for a subprime mortgage loan online can seem
intimidating at first. With so many lenders to choose from,
it can appear difficult to find the best mortgage loan.
used office furnishings-supplies-equipment-desks-cubicles-service-counters for
sale in Akron Ohio
Die cast model cars for sale in Akron Ohio
used cars for sale in Akron Ohio
unfurnished homes for
rent in Akron Ohio
ARM compare rates find the best rates current in your area lenders read reviews calculator adjustable rate loan home lenders brokers
quotes florida houston gmac washington interest only 2nd software debt consolidation
reverse senior equity texas maryland options lending bad credit
option one ameriquest chase first banks emc residential california miami dallas est branch marketing
home company commercial yahoo online bad credit low credit no credit