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Funding your purchase
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| To own a home overseas is rather special, but to make it all possible you need to sort out the best way to finance the purchase. The simplest option is to pay cash and if you can do that, fine. Otherwise, you can consider a new mortgage or re-mortgaging by tapping into the equity of your UK home. Fisk International can help you with all these decisions by referring you to licensed mortgage brokers, introducing you to local banks and referring you to specialist currency dealers that will enable you to get the best possible rate and save costs in the actual process of transferring money out of the UK. |
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There are 3 areas you need to consider when you consider buying a property abroad:-
- How am I going to fund this purchase? Do I wish to use my savings, mortgage abroad or re-mortgage in the UK. Do I wish to mortgage abroad and raise the deposit by re-mortgaging in the UK. These are fundamental finance positions which should only be taken after seeking professional advice.
- You will need a bank account in the same country as your purchase, even though it may just be a holiday home.
- And finally, how am I going to pay for this purchase without income in the local currency? Remember it’s not just the purchase but the other running costs that will be involved in owning a property abroad, local rates for instance.
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Fisks International Ltd
Showroom, 549/551 London Road
Westcliff on Sea
Essex
SS0 9LJ |
| Tel: |
01702 330115 |
| Fax: |
01702 331550 |
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Email Fisks |
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