Finance
Purchasing the property : You normally have to
buy your property with the currency of the country that
it is in; therefore it's wise to take advice from experts
in the field of currency transfer. They will guide you
through the whole process providing all the information
you need to make an informed choice. We are proud to
recommend our currency transfer partners, see the link
below. You can save a lot of time and money that way.
Where your money is held : Once you have chosen
your property and employed a lawyer and a currency dealer,
your lawyer will advise what monies are due when, then
you can send the £ equivalent to the currency
transfer company who will forward the currency to your
Lawyers 'Client Account'. It will be held there until
it is due to be paid to the developer/seller. You will
receive a receipt for all monies transferred from the
currency transfer company and from your Lawyer. This
provides security for you knowing that your Lawyer will
be making the payments due only in accordance with the
terms of the Purchase Contract.
Mortgages : There are a number of mortgage products
available from different lenders for overseas property
purchase and costs vary according to country. This is
an area where you must seek expert advice so that you
are fully aware of what options are available to you
and all the terms and conditions associated with those
options. We are proud to recommend our overseas mortgage
partners, Fidentia,
who will provide all the information you need, see the
link below or just ask us.
Banks : Most of the transactions you make will
need to be paid in the local currency so you will find
it a lot easier and economical having a local Bank account.
You can use a currency broker service to transfer regular
amounts of money to your account, once you have registered
with them. See our link below for full details. We have
experience of banking facilities in all countries where
we sell property so just ask and we will be happy to
help you with this.
Tax liabilities : Tax liabilities vary, depending
on which country your property is in. Again this is
an area where you must seek expert advice. Your Lawyer
in the country of purchase will advise you as to your
local tax liabilities; however you will first need to
ascertain your tax liabilities in your country of residence.
There are various ways in which you can own overseas
property, as an individual, through a company etc. all
of which have different tax implications.
Country Specific Finance : Read our specialist
advice for Morocco,
Spain and St.
Lucia.
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