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Finding the very best Mortgage

It might not be the most exciting part of buying your holiday home in the sun, but how to finance the purchase of your property overseas is important. Times have changed current market conditions have forced property values down, in most foreign countries, enabling buyers who are in a position to purchase secure real bargains. It is essential to have finances in place before embarking on inspection tours or viewing trips; this will enhance your buying potential and avoid disappointment when you are unable to proceed when you do see the property of your dreams.
We have teamed up with mortgage solutions an independent mortgage agent, will search for the very best deal for you, to ensure that you get the best rate and the most suitable terms for your situation.

Please follow the links below to take you to the information relating to the country in which you wish to purchase a property:

► Cypriot Mortgages

► French Mortgages

Unless you are lucky enough to have the money sitting in the bank to buy your new purchase outright, you will need to borrow, “raise a mortgage”. For most, that comes down to a choice, a mortgage in the country where you are buying, or if borrowing in sterling from a UK bank, using your UK home to release equity from your UK home increasing your mortgage?
Today’s financial crisis has meant that there are far fewer mortgage lenders and these lenders are more cautious of who they lend to and how much they will lend.
Once you have decided how much you intend to spend and remember to include taxes and buying costs in your calculations, deduct the size of the deposit you can provide and you will know how much you need to borrow. Mortgage lenders in many countries demand a larger deposit than is usual in the UK, with some overseas banks lending only 60% to 90% of the sale price. Lending terms can also be shorter than at home.
The main drawback about borrowing in a foreign currency is the potential for fluctuating exchange rates, causing chaos with even the most careful financial planning. No one has a crystal ball to foresee the future, so borrowers must plan for the worst. All overseas property buyers will have to open a current account in the local currency where they have bought to cover utility bills and local taxes and so currency risks of some sort are all part of buying abroad.