MORTGAGES FROM FOREIGN LENDERS
Although many buyers of property abroad remortgage their UK residence to finance the foreign purchase this is not always possible because there may not be sufficient equity.
Funding the purchase with a foreign loan may also have other benefits which might include:
- Euro Land interest rates can be lower than those in the UK.
- It may be possible that the loan on the foreign property can used to reduce wealth tax in the foreign Country.
- It may be possible for the loan to be used to offset inheritance tax in the foreign Country
- The customer has a loan in the currency of the country where the property exists possibly eliminating currency fluctuation risks
Conti Financial Services Limited