Finding the right lender
Getting a mortgage can be a difficult step, especially when buying abroad. Indeed, I struggled twice to get a mortgage to buy overseas (France, Spain) because banks don’t always give loans to buy real estate abroad. So I decided to build a directory, to help you find the right partners.
For example, if you want to get help to buy in Spain or in Portugal, contact MortgageDirect Spain or MortgageDirect Portugal, leading independent broker in these two countries.
Mortgages and financing
Where do you plan to buy? Click on the country below.
Home loans
Finding the right home loan, is essential. When buying abroad, you have two options to finance your real estate acquisition:
- Find a banker in the country where you want to buy
- Find a banker in the country where you are a fiscal resident
Both options have advantages and disadvantages. For example, here are some settings which may be different:
- Variable interest rate VS fixed interest rate mortgage
- Maximum duration of the credit can be completely different
- Interest rates can be much more interesting in one country or the other
- Percentage of the property value that the bank will finance will not be the same either
What’s more, not all banks finance an acquisition overseas! Quite the contrary.
So, before you look for a property, begin by talking to bankers to have everything pre-validated: duration, interest rate, percentage of the property value. That will be a huge time savior in the end. If you don’t begin by this step, you’ll be in a hurry to find how to finance the acquisition after finding a property you want to buy, causing stress and leading to a bad deal for you (for example a loan with an interest rate higher than what you could have obtained).