Can I borrow money to buy property overseas?

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Hi all you property hungry seekers out there!
I want to invest in buy-to-let property overseas but the problem is that I gonna have to borrow money for it. Is it possible to get a loan or a mortgage to buy property overseas? Few details follow: I am UK resident, EU passport, amount to borrow-about GBP 100 000. I rent in the UK but own a flat in other EU country. Possible countries to buy: Mexico, Portugal, USA.

Thanx a lot!

I reside in the US and have a property overseas that I want to refinance.
The current mortgage is with a bank in that country.
I would like to refinance with a US bank, as interest rates are lower here. Is there a bank in the US that will lend for overseas properties?

8 Comments
  1. Reply
    perlterry2000
    January 29, 2011 at 9:58 pm

    yes

  2. Reply
    max9del
    January 29, 2011 at 10:19 pm

    Why not, investing in real estates is a very good option, than any thing else. Do immediately, borrow by all-means & invest.

  3. Reply
    Jimmy D
    January 29, 2011 at 10:39 pm

    In Cyprus you can.
    check out http://www.cyprusonline.co.uk/MortgageFinance.htm for more details

  4. Reply
    pig
    January 29, 2011 at 10:58 pm

    I dont know

  5. Reply
    TokyoLiv_in09
    January 29, 2011 at 11:33 pm

    I seriously doubt it, but the only thing you can do is ask around at different banks. Make sure you know how much the property is worth. Sorry can’t help you more.

  6. Reply
    mbrcatz17
    January 29, 2011 at 11:43 pm

    Depends on where the property is located, and what you offer for collateral.

    No one wants to lend money for property that is likely to be confiscated by a socialistic government, and it’s illegal to lend money for real estate purchased in Cuba.

  7. Reply
    NC
    January 30, 2011 at 12:22 am

    I sincerely doubt it. U.S. banks write mortgage loans on an industrial scale. Anything that requires special treatment is automatically excluded from run-of-the-mill mortgage operations.

    Even if you find such a bank (which I doubt), their interest rate will probably be close to the interest rates in the country where your property is located. Lender’s risks depend on the property and its location. You might do better shopping for refinancing options in the country of your property’s location. Depending on where in the world your property is, you might try to finance it with a European or a Japanese bank.

    You could also get a loan from a U.S. bank secured by property you own in the U.S. and use the proceeds to pay off your foreign mortgage…

  8. Reply
    JB26
    January 30, 2011 at 1:03 am

    I would be difficult to do this. If you already own property, and if you have enough equity in it, I would refinance the existing property to get the funds for the new home. That way your existing property is collateral for the loan, what you do with the money is up to you.

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