I have never heard of Conti, are you safe to deal with?Conti is the UK's leading independent overseas mortgage specialist and over the last 14 years has arranged thousands of mortgages for satisfied customers. As we are a mortgage broker, we are bringing applicants and lenders together, therefore your mortgage and property are with that lender, not Conti.
Most lenders we work with do allow the rental of a property they are mortgaging. Certain conditions may apply and can vary by lender
How do I get good Legal Advice?Conti works closely with 2 excellent law firms that specialise in the legal matters related to purchasing overseas. You can find their details on the Other Services page of our website to contact them directly and independently from Conti
How long will I have to wait to find out how much I can borrow?Conti offers a free 'decision in principle' service, where you can find out how much of a mortgage is generally available to you. This service can be accessed via the website (click here) and takes no more than a few days
Are there ways I can use my UK property to fund the purchase?At Conti we believe there are significant benefits in having a mortgage through a lender based in that country. However we often have clients who reduce the size of their required mortgage by putting down a larger deposit. This can be facilitated by using the UK property to raise money against. Conti can certainly assist you with this and can find more details on the Other Services page of our website
How long does it take to arrange a mortgage?This can vary significantly by country and mortgage lender but broadly Conti is able to process the application within a week, subject to the applicant being able to provide all the details we need. It is then submitted to the lender for approval
How do I apply for a mortgage?Simply click here or call 08009700985
What are the advantages in taking out an overseas mortgage as against raising equity on a property in the UK?The main advantage of taking out an overseas mortgage is the lender will carry out checks on the property such as an independent valuation. The lender will also ensure clients have clear title and the property is registered in the clients' name upon completion.
Raising equity on a property in the UK may seem straightforward but buying an overseas property in 'cash' could present problems for the buyer if they do not ensure independent checks are carried out on the property. Sadly, all too often we hear of cash buyers where the heart rules the head and basic checks are overlooked, leaving them with a raft of problems such as boundary and title issues. Some may have bought a place in the sun but have had their fingers well and truly burned during the process.
Is it better to buy in the local currency or in Sterling?Generally it's recommended to take out a mortgage in the same currency as you earn where available. However, if the intention is to rent out the property it may be beneficial to take out a mortgage in the local currency to avoid currency fluctuation costs.
What additional costs above the purchase price should I allow for?This does depend on the country however it's usually best practice to allow for additional costs such as Legal fees, local or government purchase taxes, arrangement fees, surveyors costs, title searches and deed amendments etc. We generally suggest our clients allow an additional 10-15% on top of the purchase price to allow for these 'extras'
How much do you charge for your services?Once you are happy with the quotation and wish to proceed we charge an administration fee of £95 for French mortgage cases and £145 for the rest of the world. We then earn commission from the lender that funds the remainder of our costs for processing and submitting the application. In some instances the lender either does not pay a commission or only pays a reduced amount. In these instances we do charge you a completion fee. Clients are always made aware of this at the quotation stage
How will I know how my mortgage is progressing?A dedicated adviser will handle your mortgage application and will provide regular updates. You can also track the progress of your mortgage online at your own convenience.
For any further information on buying a property abroad, taking out an overseas mortgage or general help and advice, please do get in touch with Conti - Mortgages Overseas either by our website (www.mortgagesoverseas.com) or by telephone 08009700985