FINANCE and MORTGAGE INFORMATION

Where you should source your mortgage is the subject of numerous books and studies. Is it better to take a US $ mortgage in Florida, a Spanish mortrgage in Euros, or raise finance in the UK or even in Swiss Francs. The fact is that there is no `right' answer to this question and it largely depends on personal circumstances. However, a simple answer is that you should seek to make mortgage repayments in the currency in which you receive rental income.  If you require advice and further information please let us know.

Applying for your mortgage

The process of buying a property overseas is not the same as in countries like the UK, much of it, though, is recognisable to anyone who has bought property before. And at every step of the way, we aim to make everything as clear and simple as possible.

Our mortgages are processed by our specialist mortgage intermediaries based in the UK and elsewhere who are qualified to undertake all the required paperwork.. Your chosen Intermediary will work closely with you, and advise you, throughout your application and purchase or refinance process.

Next steps

When you have found the property you want to buy we will provide an instant decision in principle. On acceptance, your Intermediary will assist you in completing the mortgage application form, which will then be sent to the appropriate bank for processing.

 What Happens Next

(1) An Agreement in Principle is issued to you by the lender.

(2) A Good Faith Estimate of settlement costs, with costs and charges will be sent to you.

(3) A valuation report  (this depends on which country you are purchasing in)

(4) The Intermediary will contact you with a final estimate of closing costs and obtain your agreement to proceed.

(6) We then will issue you with a formal mortgage offer

(7) Documentation including the Mortgage other documents are forwarded to you.

(8) The Mortgage will be signed by you and notarised (witnessed by a Notary) and sent back to the lending institution.

(9) The advance is then sent to the developers/vendors to complete the purchase of your new property.

We can offer a good selection of mortgages and finance in US dollars, Sterling, Euros and other currencies.

For more information contact us here:  mortgages@life-international.co.uk