FAQ

Can I rent the property?
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?
HBC and their associated companies works closely with 2 excellent law firms that specialise in the legal matters related to purchasing overseas.

How long will I have to wait to find out how much I can borrow?
HBC offers a free 'decision in principle' service, where you can find out how much of a mortgage is generally available to you.

Are there ways I can use my UK property to fund the purchase?
At HBC 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. HBC can certainly assist you with this.

How long does it take to arrange a mortgage?
This can vary significantly by country and mortgage lender but broadly HBC 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 call HBC

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 £145 for French cases and £195 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