International Mortgages
With the number of Brits buying and owning property abroad set to top 4.4 million*, it's good to know how we can help you through the buying abroad process.
Whether your looking to buy in France, Spain, Portugal or Italy we offer a great range of mortgages. And we don't stop there. We're also a handy one-stop shop for all the extras you will need - from buildings and contents insurance to local banking and foreign exchange.
You'll also have access to our specialist dedicated teams and English-speaking Relationship Managers in each country. They'll keep you updated on the progress of your cases and are on hand to provide any advice you need.
INTEREST RATES
Historically, European interest rates have been lower than those in the UK. View a table of the latest EURIBOR rates.
A euro mortgage is designed for the purchase of residential properties in the local currency and by using Barclays, your client can make the whole process simple and straightforward.
What is EURIBOR?
EURIBOR stands for the Euro Inter Bank Offered Rate.
Put simply, it's the European equivalent of the Bank of England's base rate. The EURIBOR will affect the interest rate you pay on any of our European mortgages.
It's also worth noting that (while past performance isn't an indication of future performance) EURIBOR interest rates have historically been much lower than those in the UK
Whatever finance option you choose, you must be aware that whenever they sends funds from the UK to Europe, there will be exchange rate implications. Adverse fluctuations in the exchange rate may negate any appreciation in the value of the property. This is also the case if they sell the property and transfers the funds back to the UK.
There are international transfer products to help reduce exchange rate risks such as a Forward Contract. This will enable you to obtain a fixed exchange rate for funds needed at a future date or between two dates such as exchange of contracts and completion. If you chooses a euro mortgage and intends to let the property on completion, receiving the rental income in euros into a local current account means that you can eliminate exchange rate fluctuations and use this to offset your mortgage payments.
HOW TO APPLY
We've streamlined the process of applying for a European mortgage in each country to make it as simple as possible. To find out more, choose which country your client wants to buy in:
Overseas mortgages are not regulated by the Financial Services Authority
At North Mortgages our Mortgage Experts will take care of everything on your behalf. Remember, we source mortgages from the whole of the market, so you know your getting the best deals available and all tailored to suit your personal circumstances.
Call NOW on: 08000 949 595 or contact us today to arrange a Call Back.
