Getting a Foreign Mortgage
When it comes to mortgages in Europe, it is really not that entirely different from the US especially if you are looking to get property in established European countries such as Spain, Italy, France, Portugal and Switzerland. Basically, the more established the market is, the easier for you to get a mortgage. On the other hand, mortgage rates in emerging markets are higher and lenders will have stricter borrowing terms.
More or less, a UK based and foreign mortgage are not entirely different from one another. However, you should remember that in the UK there isn't that much of a market for self-certification mortgages when compared to other European countries. However, you will have a wider range of secured loans when in the United States.
So how do you get a mortgage?
You will find that in each country, more lenders are catering UK buyers that even some UK based banks offer mortgages for overseas property. For instance, you will find that other companies like ccj mortgage Halifax provides mortgages in Spain. Know about remortgaging with a ccj here!
If you want to learn more information, you can get in touch with a UK based mortgage broker to research overseas mortgages. You will be able to find mortgage brokers that specialize in different fields like property purchase and different markets. You can even find brokers with on-line service that gives tips to people who want to buy properties overseas.
You also have the option to go directly to a lender instead of dealing with a UK based mortgage broker. This might also be the easiest adverse remortgaging options if you have a UK bank, however, you will also need to take not that these lenders also have a UK presence.
The great thing about having a UK based lender is the language advantage. You also have a higher chance of dealing with reputable and quality lenders if you go for a UK based one. You can also check local reputable lenders since they offer competitive deals with variable and fixed rates. Going for lenders in established European property markets will usually have adequate English speakers so you do not have to worry about language barriers. To get more ideas about mortgage, visit http://dictionary.reference.com/browse/mortgage.
Getting a local lender will also help you with checking out the rules in the country where you are looking for a property to purchase. So basically, all in all a local lender will be able to help you throughout the process, it is just a matter of find a reputable one.