Buying a property abroad is an exciting prospect, but one important rule applies - don't let your heart rule your head.
If you are considering purchasing property abroad you should make sure you take specialist mortgage advice. The house buying process varies considerably from country to country, with different legal systems and local customs.
Beauwater has teamed up with a leading overseas mortgage specialist who will be able to advise on the best options, and get you the best deals, based on your requirements.
If you already have a residential property in the UK you may be able to raise money for a deposit by re-mortgaging and releasing equity from this property. Beauwater can guide you through the process.
Tips for buying abroad:
You should always seek specialist advice from independent solicitors, architects and surveyors before committing to purchasing a property overseas. They should know the country's laws and the local house buying process.
Always arrange an independent valuation of the property. The valuation will highlight any problems with the property itself but also, and very importantly, any boundary disputes.
Be careful never to sign a contract that you do not understand. This includes translated contracts - always get the original contract checked by a specialist.
Changes in the exchange rate may increase the sterling equivalent of your debt.
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