UK Money News
30th November 2007
Overseas mortgages 'hard to find'
Anyone looking to compare mortgages overseas might be surprised by the difficulties involved in securing such a product, it has been claimed.
Financial services provider Baydonhill states that many Britons are taken aback by the degree of effort required to get such help with money on the international market.
It adds that this is partially due to the highly developed nature of the UK property market - which enjoys advantages not necessarily available elsewhere.
Andrew Hamilton, sales and marketing manager for Baydonhill, said: "When clients deal with European lenders, they tend to be very surprised at the amount of effort that is required to get a mortgage in those countries. There is a lot more homework."
However, he added that those looking to benefit from help with finance through overseas property are likely to appreciate the lower interest rates involved.
Currently the European base rate stands at four per cent rather than the British rate of 5.75 per cent.
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