International mortgage loan – how to get it?

International mortgage loan or better say international mortgage financing is not so tough to get as you might think. Many loan companies are able to source both commercial and residential mortgages in foreign countries, either directly, or through specialist local packagers. These special financial products are usually sourced “in-country” from premier lending sources such as High Street Banks and world-renowned institutions.

Remember that each country has different rules regarding who it lends to, the term of the loans, and obviously the rates they offer/deposit they demand. In some cases there are additional laws regarding land and property ownership, and whether or not a local Limited Company needs to be established prior to the purchase of such acquisitions, such as in Bulgaria, or the period of residency in the country. There are really many variables that we cannot cover the detail on these page. You should get equipped with detailed knowledge by international mortgage lending company of your choice.

First Step to Obtain an international mortgage loan

To start the process of securing your international mortgage simply contact the chosen company with an email requesting a call-back. (Please be sure to add your international dialling code if calling from outside the USA or UK). When their Consultant calls they will establish your requirements, and send you the appropriate fact-find forms for the country. The next stage will involve the company obtaining an outline agreement from the lowest rate lender, appropriate for your situation. They should often able to obtain the outline agreement within 48-72 hours, depending on the country. When they have sourced a suitable lender and communicated the rates and costs, they will send you a lender specific application form and details of any valuation payments and fees. It’s better to look for a company that do not charge a Broker Fee for international mortgages, however mind that usually their Agents or Lenders may levy fees.

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