Overseas Property investors considering buying property in the USA need to get their currency planning in early. British buyers can capitalise on the weak US Dollar by booking rates far in advance. Many overseas property buyers leave currency planning until right up to the last minute this means they could be paying thousands more on money transfers. Currency brokers can book good exchange...
Mortgage Advice
UK mortgage lenders must have taken a look at the future and seen that the lack of first time buyers buying property in the UK could well be their downfall. It is estimated that 17.3 million adults in the UK are unable to get on to the property ladder, with 7.4 million citing house prices as the main reason. Mortgage lenders have responded with new lending criteria that sees a first time buyer being able...
The Overseas mortgage industry is currently unregulated and standards vary considerably from region to region and from broker to broker. The UK Financial Services Authority reports that this situation is unsatisfactory and wants to break down the barriers of the cross border mortgage market. Unregulated overseas mortgages are leaving the FSA twitching about consumer protection in an increasing...
Overseas mortgages in Spain France and Bulgaria are set to be the big areas of business for specialist overseas mortgage brokers. The three popular overseas property locations are set to be in line for top overseas mortgage distribution by 2020. A study conducted by Alliance & Leicester Mortgages revealed the expected future for the overseas mortgage industry. Mehrdad Yousefi, Head of...
First time buyers will become even more disillusioned by figures recently released by the Council of Mortgage Lenders. The share of first-timers paying the government stamp duty has jumped from 48 per cent to 56 per cent within a year. Michael Coogan, the CML's director-general reports “Overall, affordability has worsened, especially for first-time buyers,"...
The prospect of a crash in European house prices is now a less likely possibility for overseas property investors than was previously thought, reports claim.Rising interest rates had been expected to lead to a sudden drop in demand in the European property market, Reuters reports, but it is now anticipated that the slowdown may not be as severe as first feared.Speaking at the European Mortgage Federation...
A show has been organised by Overseas Property Professional (OPP) to offer an insight into finance options and other information for overseas property investors.The event will provide advice and guidance for agents, developers and any other professional in the overseas property industry, according to OPP.Newton Scott, chairman of Fidentia Group, will be speaking at the event, providing information on...
Barclays Bank has launched mortgages in Dubai specifically aimed at capturing the growing overseas property market for investors. As the property market booms, investors can now obtain a buy-to-let, owner-occupier or off-plan mortgage and get an approval within 24 hours. Such is the international appeal of Dubai, the mortgages are available in local dirhams, pounds sterling, euros or dollars and the bank...