Offshore And International Mortgages
OFFSHORE MORTGAGES are available to UK Expatriates or Foreign Nationals who wish
to purchase or remortgage a UK PROPERTY whether for their own occupation or for investment purposes,or indeed, if they merely wish to release equity they already have in a UK property.
Potential applicants are:
- Foreign Nationals (non UK domicile) working or residing in the UK or overseas
- UK Expatriates working or residing overseas
- UK Nationals, working or residing in the UK, intending to move abroad within the next 12 months or they have significant assets/income in a foreign currency
Examples of potential clients' profiles are:
- Client is looking to move abroad to live or work
- Client qualifies for NOR (Not Ordinarily Resident) status for UK tax purposes
- Client uses a non-UK passport as ID or has an overseas address
- Client receives a significant proportion of income in a foreign currency
- Client's income or bonus is paid offshore
- Client has overseas connections i.e. offshore companies, trusts, etc.
- UK Expatriate clients looking to rent out property whilst working/living abroad
- Client is an overseas investor wishing to purchase a property for their child to live in e.g. whilst he/she is educated in the UK
Offshore Mortgages are available in a variety of currencies including Sterling, Euro, US Dollar, Hong Kong Dollar, Swiss Franc and Japanese Yen. Offshore mortgages are also available to Offshore Companies and Trusts.
INTERNATIONAL MORTGAGES are available across a wide range of countries and currencies and this service is principally designed for a person of any nationality planning to purchase or remortgage properties OUTSIDE of their COUNTRY of RESIDENCE.
International Mortgages can be arranged for:
- holiday homes
- investment properties
- 'buy-to-let' properties
- mortgage switching and equity release
Mortgages can be arranged in 10 different currencies, however, the currency must be the same as your main income or the local currency of the property location.
The World is getting 'smaller' and, as a result, more and more people of all nationalities are buying properties in a country other than the one in which they are currently living.
As should always be the case, do not let the heart rule the head. Don't be less vigilant and less attentive than when buying in one's own country. It is important that professional advice is sought and a good, independent specialist in the provision of offshore or international mortgages should be a priority.
Your home may be repossessed if you do not keep up repayments on your mortgage. Changes in the exchange rate may increase the Sterling equivalent of your debt.
by: Nigel Osgood
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