International Mortgage News

European Lending - maximum mortgages available:

Greece - max loan now 70% of the value of the property

Spain - Max loan and re-finance loan - 70% - (65% with most UK banks)

Portugal - Max loan now 80%

Turkey - Max loan now 70%, rates approx 6% variable  - good product!

Cyprus - 65% Max LTV

Figures correct as at 10th February 2009

Other country updates will be published shortly

Please feel free to view our main website or contact us at www.international-mortgage-broker.com

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 UK Property (Expats Only)

I wouldn’t normally comment on the UK property market (we are not FSA registered and cannot give advice on UK mortgages - see below), but one bank has come up with such a great product for Expats that we have to mention it.

With the credit crunch, banks have tightened up their underwriting criteria, making things particularly hard for expats to remortgage their UK properties.

Well despite all the doom and gloom in the press I am happy to report some good news. We have access to a large high street bank that is happy to offer residential mortgage rates on one UK property; if it is your intention to return to the UK and it will become your principle main residence at any time within the next ten years. If it is rented out, they will even take this income into consideration in their calculations.

This product is a residential mortgage product and therefore comes under the regulation of the UK Financial Services Authority (FSA). IMB Financial Solutions are not regulated by the FSA and therefore cannot give you advice on this product.

We can, however, introduce you directly to the bank, their advisors are FSA regulated and they will cover all aspects of the advice process. We charge an introduction fee of 0.35% of the loan for this service, payable on successful mortgage offer only.

For multiple properties and other scenarios, we can also refer a number of highly experienced FSA regulated Independent Mortgage Brokers and are happy to put you in touch with them if you require their assistance.

Want to find out more information, please 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.