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How Conti Can Help You To Finance Your Overseas Home By
Using The Switzerland Property As Security
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If you require finance to purchase your overseas property,
then Conti Financial Services - Licensed Credit Broker (who
have had over 20 years experience in the market) could assist.
Using the Switzerland property as security a Repayment Mortgage
in Swiss Francs only up to 80% could be raised, depending
on individual requirements.
Based on the valuation or purchase price, whichever is the
lower, of the Swiss residential property, UK and Non-UK
applicants can borrow up to 80% in Swiss Francs only for
purchases and re-mortgages for Home Improvements, noting
that you must have at least approx £ 500,000 in "Free Assets"
available, after all existing liabilities. Mortgages for
all other purposes are dealt with on a case-by-case basis.
The minimum loan is approx £ 150,000 - no max, but the minimum
purchase price is approx £ 500,000. The term of the loan
is up to 35 years for loans up to 60% and up to 20 years
for loans over 60% and could possibly be available up to
age 70. Repayment Mortgages are available + 5 year Interest
only Reviewable loans. Current interest rates as at 27th
April 2004 are from approx 2.25% Variable in Swiss Francs
(loans over 60% are charged at a slightly higher rate -
details on request). Fixed Rate loans also available, but
at higher rates and setting-up costs.
You will find below an example of a loan to assist you based
on a Repayment Mortgage in Swiss Francs and to this must
be added the cost of a Mortgage Protection Policy, dependent
upon age. |
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Written Quotations Available On Request -
Repayment mortgage of approx CHF460,000 over a period
of 20 years at a variable interest rate of approx
2.25% variable = approx CHF2,405.80 capital & interest
per month = a total approximate amount payable over
the term of CHF581,992.00 including capital, interest,
arrangement and survey fees.
The income criteria is variable
Bank Reference and Employers or Accountants reference
if self-employed
Existing borrowing in the UK and Overseas will be
taken into account
ALL ENQUIRIES WILL BE DEALT WITH ON A CASE BY CASE
BASIS & ARE SUBJECT TO SATISFACTORY CREDIT STATUS
& VALUATION
Please note, that as the loan
is secured on the overseas property, it is not covered
by the UK Consumer Credit Act or the UK Mortgage
Code.
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MORTGAGES ARE ALSO POSSIBLE USING THE OVERSEAS PROPERTY
AS SECURITY IN THE MAJORITY OF WESTERN EUROPE, AUSTRALIA,
CANADA, DUBAI, ISRAEL, MEXICO, NEW ZEALAND, POLAND, SOUTH
AFRICA, USA & THE CARIBBEAN - OTHER COUNTRIES ON REQUEST.
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HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON
A MORTGAGE OR OTHER LOAN SECURED ON IT. BE SURE YOU
CAN AFFORD THE REPAYMENTS BEFORE ENTERING INTO ANY
CREDIT AGREEMENT |
THE
STERLING EQUIVALENT OF YOUR LIABILITY UNDER A FOREIGN
CURRENCY MORTGAGE MAY BE INCREASED BY EXCHANGE RATE
MOVEMENTS |
FIGURES
BELIEVED CORRECT AT TIME OF ISSUE. THIS IS NOT AN
OFFER OF MORTGAGE |
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Taking out a mortgage in another country has a range of additional
costs to consider, together with numerous advantages. Please
visit our costs & benefits
page for more details.
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