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Equity Release
for Property Overseas
Owning a second
home abroad is a
dream for many people
in Britain. The
attraction of a
better climate and
relaxed lifestyle
also means the number
of people wishing
to move permanently
or to retire
overseas grows every
year. Many people
however don’t
get much further
than dreaming about
it as, although
property is often
far cheaper abroad
than in the UK,
they feel the costs
involved would be
too great. However,
there could be an
easy and cost-effective
way to make the
dream become a reality.
The chances are
that you have some
equity in your home.
By re-mortgaging,
you could release
some of the capital
to finance the purchase
of your overseas
property. Many mortgages
today are available
at very competitive
rates and when the
low introductory
rate ends maybe
after the first
few years, you can
always shop around
and switch to another
new deal. Many people
are paying more
than they need to
for their mortgage
so it makes sense
to regularly review
your mortgage every
few years anyway
to try and save
money so why not
tap into the unused
resource locked
up in your home
at the same time?
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As well as having your own holiday home or somewhere to ultimately retire to, another advantage of owning a property abroad is that you could rent it out while you are not using it, to provide a source of income. With this in mind, it is always a good idea to assess the rental potential of any property before buying.
Always research thoroughly before making any commitment and check the small print on your existing mortgage for any early exit penalties before re-mortgaging. You could still save money however, even taking penalties into account. |
To find out more
about releasing
the equity in your
home for property
abroad, please complete
an Equity Release
Mortgage Enquiry
Form
above and we will
arrange for one
of our advisers
to contact you.
Or you could call
us on 0845
108 0505.
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