International Mortgage News

Brief updadte on USA and Caribbean Lending:

Despite difficult market conditions there are still excellent rates available for mortgage lending for non residents buying in the USA and Caribbean.

Depending on the State/Island, mortgages can still be applied for at up to seventy per-cent of the property value.

Please note that in the USA, typical bank fees have increased dramatically for non-residents purchasing property.

Details correct at 16/06/09

Individuals must demonstrate adequate net asset value and disposable income to service the loan.

Want to find out more information, please contact us via our website: www.international-mortgage-broker.com

www.international-mortgage-broker.com and IMB Financial Solutions are trading names of Julian Myles Fidler

Your home or foreign property 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. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.

International-Mortgage-Broker.com would like to wish all readers a happy new year. Let us hope that 2009 brings more joy in the World property and lending markets than 2008.

We will be continuing our research into the ever changing International Lending market and as ever, always striving to look for ways to save clients money.

Our key strategies for 2009 are reducing client exposure to high interest rates, reducing exposure to foreign exchange rates and of course developing and strenghening global lending opportunities.

Interest Rates

Reducing exposure to high interest rates: This is the balancing act of keeping debt the same, but looking to borrow in other currencies against properties around the world. For example, if you have a property in the UK at the moment, it makes sense to increase your debt here (taking advantage of the low interest rates) and use the equity to pay down the loan on your property abroad - particularly in places like Australia, New Zealand and South Africa who are all suffering from high interest rates.

Currency Risk

Please remember the risks of currency exposure; ideally you should always have some income in the currency you are arranging a mortgage, to mitigate your exposure to currency risk. For example, many investors in Europe are currently suffering because their mortgage payments are in Euros, but their income is in Sterling.

International-Mortgage-Broker.com will continue to develop in 2009 it’s relationships with various City firms, banks and finance houses to look at hedging foreign exchange rate risk or at least mitigating the impact.

When buying property abroad, always also remember to seek independent tax advice in all the countries you are involved.

The Global Property Lending Market

We are very much looking forward to developing new markets in 2009; working with other brokers from around the World. This has always been part of our strategy, finding specialists in their own particular local markets. We shall continue to develop our links with Germany and are opening up lending opportunities in Panama and Mexico. We will also be looking to strengthen our lending in the Middle East and Asia, notably: Qatar, Singapore and Hong Kong.

Meanwhile, we continue to remain strong in most of the European countries, the USA, Canada and the Caribbean. Despite the high interest rates locally, we also expect to arrange a lot of lending in South Africa, Australia and New Zealand this year.

We will always strive to offer the best choices of local bank lending and access to International / Offshore and Private banks.

I hope this is of interest, please feel free to contact us via our website: www.international-mortgage-broker.com

Best wishes again for 2009.

Julian Fidler.

Mortgages for German Property (Foreign Nationals)

Arranging mortgages in Germany has always been an issue for International Mortgage Brokers like myself. Foreign nationals can buy property for cash with no problems, but there was one issue in German property law that has always made things complicated for foreign buyers:

You have to have an address in Germany where all letters, statements and documentation relating to a mortgage can be sent. The German banks require this, because it is to this address that they will come to if there are any late or non payments on the mortgage.

Clearly not an issue if you are living in the country, but it makes it very difficult if you are a foreign buyer, purchasing for investment purposes.

I’m now working with a firm of brokers who seem to have cracked this problem and are working with most of the German banks.

We are able to obtain pre-approval of mortgages for customers, so whether you are at the very early stages of thinking about purchasing a property in Germany, already found your new property, or currently have a mortgage on your German home and wish to save money, we may be able to help.

Want to find out more information, please feel free to contact me via my website:  www.international-mortgage-broker.com

Your home or foreign property 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. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.

Mortgages for Foreign Nationals Buying in Canada

Detalis are correct as at November 4th 2008.

Rates from 5.75%, available up to 75% of the value of the property on a 5 year fixed rate.

We do have variable rate products available; however due to the current economic climate, these are more expensive.

Canada has one of the most secure banking systems in the World.  To date it has not had one single failing bank and the Government has not added a single penny to their banking system.

Average detached home prices nationwide are approx. $350K Canadian or $300K American.

We are able to obtain pre-approval of mortgages for customers, so whether you are at the very early stages of thinking about purchasing a property in Canada, already found your new property, or currently have a mortgage on your Canadian home and wish to save money, we may be able to help.

Want to find out more information, please click contact me via my website:  www.international-mortgage-broker.com

Your home or foreign property 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. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.

Mortgages for Foreign Nationals buying property in Greece

The ‘Credit Crunch’ has meant that many banks are now restricting their lending on property in Greece to 50% of the value of the property to foreign nationals.

Whether for an investment or a holiday home, this could be the perfect opportunity. We can currently offer mortgages on Greek property at 90% of the value, 10% Deposit ONLY required.

Arranging a mortgage in Greece :

• Loans available for Purchase, Construction or Home
Improvements
• Loan advance of 90% of the market value of the property
and not the purchase price
• Range of Currencies - Euros, Swiss Francs, US Dollars and
any other currency provided it is funded by the banks
• Interest Rates start from 4.00% in Swiss Francs
• Fixed Rate of Interest available for 3, 5, 10, 15, 20 and 25
years
• Variable Rate Mortgages with no Early Redemption Charges
• Reduced Banking and Legal Charges
• No Valuation Fees
• Maximum loan term 30 years
• Overpayment, Underpayment and Payment Holiday facility,
subject to the terms and conditions of the lender.
• Access to 24 hour Online Banking
• Minimum Documentation for an Application (copy of
passport, latest P60 and payslip or tax assessment, if self-employed)
• Shortened Two Page Mortgage Application Form
• Pre-approval and quotations within hours of an Initial
Enquiry
• Currency Review Switching Service

We are able to obtain pre-approval of mortgages for customers, so whether you are at the very early stages of thinking about purchasing a property in Greece, already found your new property, or currently have a mortgage on your Greek home and wish to save money, we maybe able to help.

Want to find out more information, please click contact me via my website:  www.international-mortgage-broker.com

Your home or foreign property 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. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.

Expats and Foreign nationals buying or remortgaging property in Australia

This is particularly great for clients working in: Hong Kong, Singapore and Japan, as an example; who get paid in the local currency and can therefore benefit from the rates available in their respective currencies.

Please note you must have some connection with the currency of your choice, ideally having income in the currency of the mortgage. We do not recommend ‘currency mortgages’ as a cheap method of finance per se. Exposure to exchange rate risk can cause significant increases in the monthly payments and in the size of your debt.

Rates Available:

GBP 6%
EURO 6.41%
USD 5.07%
CAD 5.38%
AUD 8.95%
NZD 10.31%
CHF 4.11%
YEN 2.15%
HKD 5.25%
SGD 3.33%
Rates correct as at 01/10/08

A minimum deposit of 30% is required.

This product is only available to Expats and non residents wishing to buy property in Australia. We cannot accept applications for Currency Mortgages from Australian residents with this particular product/lender.

We are currently working on developing relations with other banks and brokers to expand our offering in Australia, so even if you do not fit the above criteria we might be able to help.

Please feel free to contact me via my website: www.international-mortgage-broker.com

Your home or foreign property 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. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.

© Julian Fidler 2008 - International-Mortgage-Broker.com provides Mortgage & Lending Solutions for the International / Overseas Property Market. We work with Private Banks & Off-shore Mortgage Lenders.

See our Mortgage Case Portfolio for examples: Caribbean Mortgage, American Mortgage, French Mortgage, Spanish Mortgage , Greek Mortgage.

Property Mortgages for : North America -: USA & Canada - All States : New York (Manhattan), Florida, California, New England. Europe - Spain, Portugal, France, Switzerland, Greece, Cyprus, Italy, Austria, Croatia, Poland, Slovenia, Turkey, Gibraltar, Belgium. Caribbean - Antigua, Bahamas, Barbados, Bermuda , Cayman Islands, Jamaica, Nassau, Saint Kitts, Saint Lucia

Rest of the World - Australia, South Africa, Mauritius, Madagascar, Hong Kong, Singapore, India (Mumbai) …

Mortgages for buying property in the Caribbean

Most brokers only offer mortgages from local Caribbean banks, which restricts the level of deposit required and the rates available.

Whether for an investment or a holiday home, this could be the perfect opportunity. We offer mortgages on Caribbean property from 75% of the value, 25% Deposit ONLY required.

Private Bank Options: This route is for High Net Worth clients looking to borrow a minimum of $500,000, with no maximum. We currently cover the following areas: Bahamas, Barbados, Bermuda, St. Lucia & Antigua. Typically rates are from 2.25% over US Libor with a minimum requirement of a 25% deposit required. Lending can be arranged in all major currencies.

Local Bank Options: For loans that don’t fit the above criteria, we can still help. We work with all the local banks across the Caribbean.

Rates tend to be slightly higher, circa 3% above US Libor

A minimum 30% deposit is required on property in Bermuda, Bahamas, Barbados, Belize, British Virgin, Cayman, Jamaica, St. Lucia, Turks & Caicos.

A minimum 40% deposit is required for property in Anguilla, Antigua, Nevis, St. Kitts, St. Vincent and Tobago.

Individuals must demonstrate adequate net asset value and disposable income to service the loan. Rental income on the property can be included in this calculation.

Want to find out more information, please contact us via our website: www.international-mortgage-broker.com

www.international-mortgage-broker.com and IMB Financial Solutions are trading names of Julian Myles Fidler

Your home or foreign property 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. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.