- home mover
- first-time buyer
- remortgage
- buy to let
- let to buy
- second home
- new build
- renovation and self-build
- large loan
second home
With many home owners enjoying significant increases in property wealth buying a second home for holidays, use as a pied a terre or retirement has become increasingly popular.
You could have the choice of funding the purchase of your second home with a new mortgage, or by increasing the mortgage on your existing home. If your second home is in the UK, you’ll probably need take out a separate mortgage on the new property.
If your second home is overseas, you could also mortgage the property locally. At the moment if you are buying property in the Euro zone you could make savings because borrowing in Euros currently attracts a lower rate of interest than Sterling.
How Active Mortgage Advice can help
At Active Mortgage Advice we have extensive experience of foreign currency mortgages and we provide many of our clients with ongoing advice on the best way to manage their overseas property in a changing economic environment.
case study: French holiday homeMr & Mrs E wanted to buy a cottage in France for holidays and lettings. We found them the cheapest way to finance their deposit using equity from their UK property and sourced them a Euro mortgage offered by a UK High Street lender. |
Your property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.
Foreign mortgages are not regulated by the FSA or arranged via Sesame.
