Buying property abroad with international mortgages

If you've always wanted to have a holiday home overseas, you are likely to be considering what international mortgages are available to you in order to get such a property.

While you can choose to rent this kind of home, if you're looking for a more permanent footing on the housing ladder, you may be looking at buying property abroad outright. This is where our range of international mortgages can help.

Although we cannot usually provide mortgages for a property you plan to use as your main residence, our selection of offshore mortgages can be suitable if you want a holiday home, are buying with the intention of renting it out or are purchasing for investment purposes.

All of the paperwork will be in English, so regardless of where you are thinking of buying abroad you can be safe in the knowledge that you will be able to understand all the information that is presented to you.

How much can I borrow when buying abroad?

No matter what your reasons behind buying overseas property are, you can be sure that at Lloyds TSB International we will offer you a competitive deal. We will generally lend up to 70 per cent of the purchase price or valuation of a home, although there are some exceptions to this - most notably in Dubai, Spain and the US. You can usually borrow up to five times the value of your annual basic salary, or if you are taking out a joint mortgage along with someone else, this will be up to five times the value of your combined income. All our lending decisions are based on the individual merits of your case.

What currencies are international mortgages available in?

The Lloyds TSB International Mortgage Service is available in a wide range of currencies, ranging from Australian and US dollars to Japanese yen and the euro. However, it is also possible to get products that use sterling. Although you can choose to match your international mortgage to the currency of your salary and savings, you can also set it to the currency of the country that your new home is located in.

What countries can I purchase property in?

Lloyds TSB International offer international mortgages in countries across the world, so if you're planning on buying property in Spain, Portugal, France, Singapore, Dubai, Hong Kong or New Zealand they may be able to help.

In addition, international mortgages are available for the United States, Canada and Australia. However, these offshore mortgages are only available in selected provinces and states. If you're looking to buy property here, get in touch with them to find out about the areas of these countries in which you can purchase a home with an international mortgage.

An international account is aimed at those who plan to buy homes that are located outside their country of residence. This means that while you are purchasing abroad, you cannot live in such a property on a permanent basis or use it as your main residence. Homes in Hong Kong and Singapore are the exception to this, where offshore mortgages for owner-occupation are available.

If you are looking at offshore mortgages ahead of buying a property in Spain then you should be aware that you will first need to obtain a Non-Resident Buyers' Identification Number before making your purchase. Should you have any questions about the Lloyds TSB International range of international mortgages or simply want more information about buying overseas property then get in touch with them.