Frequently Asked Questions
I am looking for a French mortgage, when should I get advice?
Do it early as a starting point to the buying process. If you arrange your mortgage in France first then you'll know that a property is in your budget, that you qualify for a mortgage and can safely put in a formal offer.
How do overseas mortgages in Italy work?
Overseas mortgages work on three basic principles.
- Your total credit commitments must be covered by a set percentage of your disposable income, this is set by the lender.
- You can borrow a certain percentage of the property value.
- You must provide proof of income to the lender.
I don’t own a property in the UK can I get a mortgage in Spain?
Yes, you can get an mortgage in Spain or any country, providing you have a sufficient deposit and income.
I’m self-employed can I get a mortgage?
Yes, providing you can provide business accounts and recent tax returns.
I'm on a pension can I get a mortgage?
Yes, as a retired person you cannot be made unemployed and your income isn’t reliant on whether you’re healthy enough to work. You need to be aware that many lenders have upper age limits on their mortgages and you will need advice on which lender to use and how long you can have a mortgage. As advisors we would want to know what arrangements you have to pay off the loan.
My bank said no, so why would anyone else lend me the money?
Every lender has a different set of criteria for each client. Your bank can only offer its own products, whereas our advisors research the market to find an alternative lender.
I want to keep my home and rent it out, is it possible?
Yes, our advisors will the implications of this in relation to taking a foreign mortgage.
I already have a financial advisor, why should I use you?
Do they specialise in overseas mortgage finance? Is there any reason why you wouldn’t value a second opinion? Our advisors have access to overseas lenders that a UK mortgage advisor may not have contacts with. We are always happy to work in conjunction with your existing advisor should you want us to.
Would going straight to a bank would be better and cheaper?
Possibly. However, all lenders have different criteria. We know what these are and can choose the correct lender for your circumstances.
I have had credit problems. Can I get a mortgage in Italy?
It will depend upon your individual circumstances. Overseas lenders generally like to see a clean credit history.
How quickly can I arrange the finance for my Spanish purchase?
Our advisors will discuss your requirements over the phone and will then complete a fact find which will determine whether you qualify. If you do, we will then confirm what mortgages are available and the associated fees in writing. Once you are happy to proceed then we can submit your application and get a decision from the bank. As we already know the banks criteria, we will only be sending applications that are likely to be agreed. Typically it will take around 8 - 12 weeks from our initial contact to when you receive your mortgage approval.
What will it cost me?
Our advisors will always look to obtain the best rate with the lowest fees depending upon your requirements and circumstances. Before you agree to proceed you will be able to make an informed decision based upon written details of the proposed mortgage. Have a look at our mortgage calculator for an indication of monthly interest costs or request a quote.