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PRINTED: 08:57:04 | 7 September 2010
Second Floor Stirling House - 21 to 25 Station Lane |
COUNTRY |
TYPICAL RATE | PURPOSE |
MINIMUM LOAN |
MAXIMUM LOAN |
TERM |
MAX AGE |
REPAY METHOD |
CURRENCY |
ADDITIONAL INFO |
| ALBANIA | 8% | Residential purchase | N/A | 70% Loan to value or purchase price whichever is the lower. Maximum loan €500,000 | 15 years | 65 | Capital and interest | Euros | Liabilities must not exceed 45% of income including new mortgage repayment and a minimum €200 must remain within family expenses. Due to current banking situation no mortgages are being offered at present. |
| ANDORRA | From 1.97% | Residential purchase, construction, renovation or extension. | €50,000 | 70% of the lower of puchase price or valuation of property. | 5-30 years | 70 | Capital and Interest. Interest only option available. | Euros | DEBT SERVICE COVERAGE RATIO:35% of net income. |
| ANTIGUA | From 4.17% | Purchase or construction of residential properties. | $250,000 USD | 60% of the purchase price. | 20 years | 65 | Capital and Interest. 5 year interest only option available. | East Carribean Dollars,USD,Euro,GBP. | Total monthly debt payments, UK and Antigua, including insurance, taxes and utilities divided by total income should not exceed 40%. |
| AUSTRALIA | From 1.69% | Residential. | 100,000 GBP | 70% | 25 years | 70 | Capital and Interest or Interest Only | Australian Dollar, or currency of your primary income. | Approval from Foreign Investment Board required prior to purchasing property for non Australian or New Zealand citizens. This product is for Non Residents only. |
| AUSTRIA | From 5.5% variable. | Residential, investment. | N/A | 70% of purchase price | 20 | 70 | Capital and interest | Euro | Based on applicants financial standing and the ability to repay all loans including Austrian mortgage. Important to know area of Austria finance required.Due to current banking situation no mortgages are being offered at present. |
| BAHAMAS | From 4.024% | Residential and investment. Land purchase. | $250,000 USD | 70% loan to value | 20 years | 60 | Capital & Interest. 5 year interest only option available. | USD | Mortgage assessed on the basis of serviceability and amount of disposable income after normal running expenditure. |
| BARBADOS | From 3.67% | Residential and Investment properties. | $250,000 USD | N/A | 20 years | 65 | Capital and Interest. 5 year interest only option available. | USD, GBP,EURO, CND | Mortgage assessed on the basis of serviceability and amount of disposable income after normal running expenditure. |
| BELGIUM | From 4.7% | Residential and investment purchase. | €30,000 | 70% loan to value. | 20 years | 65 | Capital and Interest | Euro | Liabilities including new Belgium mortgage not to exceed 35% of net income. Sufficient income must be earned in Belgium to service mortgage. Potential rental income not accepted. |
| BRITISH VIRGIN ISLANDS | From 3.17% | Residential, investment and construction | $250,000 USD | 70% of purchase price. 50 % if you are building 60% restriction in Anguilla, St Kitts and Nevis. | 20 | 65 | Capital and interest.5 year interest only option available. | Euro, Sterling and USD mortgages available. | Must open current or savings account with lender. Mortgage assessed on the basis of serviceability and amount of disposable income after normal running expenditure. |
| BULGARIA | From 11.95% | Residential purchase and investment. | 25,000 Euros | 50% of the property’s purchase price. | 20 Years available | 70 | Capital and Interest. | Euro | Your loan is based on your joint net take home pay. All your existing liabilities including any mortgage/rent payments, personal bank loans, credit card payments etc together with your proposed Bulgarian mortgage. |
| CANADA | From 1.79% | Residential, Investment, Re-mortgage. | 100,000 GBP | 65%-Rural areas. 70%-Urban areas. | 25 Years Available | n/a | Capital and Interest | Canadian Dollars | Total Debt Service looks at Gross Annual Income needed to service all debts. Total Debt Service payments not to exceed 37-40% Gross annual income. |
| CAPE VERDE | From 4.75% (Restricted development). Fixed 8% | Residential and investment | 50,000 Euros | 85% loan to value. Subject to development. | 35 years | 75 | Capital and interest. 5 year interest only available | Euros. | Mortgage assessed on the basis of seviceability and amount of disposable income after normal running expenditure. |
| CAYMAN ISLANDS | From 3.17% | Residential and investment | $250,000 USD | 70% loan to value | 20 years | 70 | Capital and Interest.5 year interest only option available. | USD, Sterling or Euros | Mortgage assessed on the basis of serviceability and amount of disposable income after normal running expenditure. |
| CHINA | From 5.58% | Residential and Investment | 300,000 RBM (approx£19,500) | 70% | 5 to 30 years | 65 | Capital and Interest. | HKD,USD and RMB. | 35% of net income less any other liabilities, i.e mortgage, loans, (secured or unsecured), credit cards. |
| CROATIA | From 5.52% | Residential and Holiday Lets | n/a | 70% loan to value or purchase price whichever is the lower. | 20 years | 65 | Capital and Interest | Euros | Net take home pay either joint or single less any liabilities, mortgage, loans, credit cards. Total expenses including Croatian mortgage should not exceed 35% net income.Due to current banking situation no mortgages are being offered at present. |
| CYPRUS | From 6.5% | Loan purpose Residential and buy to let | £23,700 | 70% of the properties purchase price. 80% if resident of Cyprus. | 10 - 30 Years available | 65 | Repayment mortgages (Interest only available up to 5 years). | Euro (EUR) | Your loan is based on your joint income. All existing liabilities including any mortgage/rent payments, personal bank loans, credit card payments etc together with your proposed Cypriot mortgage payments must not exceed 60% of your monthly income for employed persons and 40% for self-employed persons. |
| CZECH REPUBLIC | From 4.6% | Residential Purchase, Construction of New Property. Remortgage, Refurbishment of existing property. | CZK 400k (approx £8k) | 85% of the property’s purchase price | 30 years | 70 | Capital and Interest. | Czech Koruna | 3.3 x single income or 2.7 x joint income must cover all exisiting UK liabilities including residential mortgage payment, personal bank loans, credit card payments etc together with new Czech mortgage payment. Rental income will be taken into account. Czech registered company must be set up. Rates are fixed rate above for 1 year but depends on project. |
| DUBAI | From 3.99% | Residential, Buy to Let | 100,000 AED | 70% of purchase price. | 1 - 20 years | 60 employed. 65 self employed | Capital & Interest | Dirham (AED) | Employed minimum 3 years. Debt service ratio not to exceed 55% of net income. Self employed minimum 3 years. Monthly bank credits equivalent to 2.5 times monthly instalment of new mortgage. Developments must be approved. Some developments restricted maximum loans. |
| EGYPT | From 8.77% | Residential and investment | N/A | 60% loan to value or purchase price whichever is the lower. | 10 years | 65 | Capital and interest | Egyptian Pounds | To obtain pre approval, proof of land ownership required and name of developer. Also required agreement of vender to have mortgageon property. |
| ESTONIA | From 4.44%+margin. | Residential and investment | €10,000 | 80% Loan to value with additional guarantees | 30 years | 65 | Capital and interest | EEK | Cost of new mortgage plus UK liabilities not to exceed monthly income. |
| FRANCE | From 1.79% | Residential purchase, Buy-to-Let,Re-Mortgages and Equity release. | 32000 Euros | 85% of the properties net purchase price | 5-30 Years available | 80 | Capital and Interest. Interest only option available. | Euro | Your Loan is based on your joint gross income minus NI payments for UK residents. All your existing liabilities including any mortgage/rent payments, personal bank loans, together with your proposed French mortgage payments must not exceed 33 to 40% of your monthly income. Agents fees can be included. Not legal fees. |
| GERMANY | From 5..67% | Residential or investment in Berlin. | 100,000 Euros. | Up to 70% loan to value for employed applicants and 56% for self-employed applicants | 30 years | 75 | Capital and Interest | Euro | 80% of rental income from German property can be added to monthly net income. On non Buy to Let products liabilities including new German mortgage not to exceed 35% net montly income. |
| GREECE | From 3.14% | Residential purchase, investment, land and development. | €25,000 | 70% loan to value | 25 years | 70 | Capital & Interest | Euros | Seviceability of existing liabilities and new Greek mortgage based on net income |
| HONG KONG | From 2.49% | Purchase or remortgage | 100,000 GBP . | 70% | 30 years. | 70 | Capital and Interest and Interest Only. | HKD, Sterling. | Purchase/ remortgage of second or holiday homes. Investment properties. |
| HUNGARY | From 8.25% | Residential Purchase, Investment, Refurbishment, Re-Mortgages (unencumbered property only) and commercial (different terms apply to commercial) | £2000 | 50 -65% of the properties purchase price (depending of affordability) | 1-35 Years available | 70 | Capital and Interest. | Euro, | Your loan is based on your joint net ‘take home’ pay. All of your existing liabilities including any mortgage/rent payments, personal bank loans, credit card payments etc together with your proposed Hungarian mortgage payments. Restrictions apply for Hungarian companies, Kft or Bt. Maximum 50% loan to value. Term 7 to 10 years. Self-cert available up to 50% loan to value. Restricted developments. |
| ICELAND | 8% | Residential, investment and re-mortgages | 2,000,000 ISK | 80% market value. | 40 years | 65 | Capital and interest. | ISK. | Based on individual affordability. Total monthly liabilites including new mortgage not to exceed 40% gross income. Due to current banking situation no mortgages are being offered at present. |
| INDIA | From 10.5% to 12.5% | Residential,Investment and Land | Rs 5 lacs (approx £1,300) | Rs 1 crore (approx £130,000) 85% loan to value. | Salaried 15 years. Self -employed 10 years. | 70 | Capital and interest | Rupee | Available to Non Resident Indian nationals (NRI). Mortgage and term based on affordability and repayment capability as well as employment status. Income has to be proven as well as liabilities. General rule. New mortgage along with other liabilities must not exceed 50% gross annual income. Minimum annual income 21,000 GBP. |
| ISRAEL | From 6% | Residential and investment. | 25,000 USD | 80% loan to value. Subject to indemnity insurance. 60% loan to value, indemnity free. | 15 years | 65 | Capital and interest. Interest only option available for 2 years. | USD,GBP and EURO | Proof of borrowers ability to repay the loan has to be evidenced by lender. |
| ITALY | From 2.59% | Residential, Renovation. | €105,000 | 70% Loan to Value | 10 to 40years | 75 | Capital & Interest. Interest Only (Conditions apply) | Euro | All mortgage /loan repayments including proposes mortgage not to exceed 30% of gross income. |
| JAMAICA | 5.17% | Residential, investment and construction. | $250,000 USD | 60% of the purchase price | 20 years | 65 | Capital and interest. 5 year interest only option available. | USD, GBP or Euro. | Based on individual circumstances and dispoable income.DEBT SERVICE COVERAGE RATIO: 45% of net income. OVERTIME: 60% considered |
| LATVIA | From 4.49% | Residential and investment. | n/a | 80% loan to value or purchase price whichever is the lower. | 30 years | 65 | Capital and interest | Euro | Cost of new mortgage plus UK liabilities not to exceed monthly income. |
| LITHUANIA | From 5.5% | Residential, investment, land purchase and construction finance. | n/a | 85% loan to value or purchase price whichever is the lower. | 25 years | 65 | Capital and interest | Euro | Cost of new mortgage plus UK liabilities not to exceed monthly income. |
| MALTA | From 3.27% | Residential, investment and re-mortgages. | Lm 25,000 | 90% | 40 years | 65 | Capital and Interest. Optional 2 year moratorium on the repayment of capital. | LM,Euro,GBP or USD. | Repayments are not to exceed 25% of your total gross income. |
| MEXICO | From 5.68% | Residential and investment | $100,000 USD | 70% Loan to value,first residence. 65% Loan to value,second residence | 20 years | 65 | Capital and Interest | USD | Full status only. USD LIBOR + 2%. Liabilities including new mortgage not to exceed 40% net income. At present USA and Canadian citizens only. |
| MONTENEGRO | 3 month Euribor + 5.35% | Residential Investment Refinance of existing property. | 5,000 Euros | 70% Loan to Value (purchase) 50% Loan to value (refinance) | From 3 to 15 years | 70 | Capital & Interest | Euros | Minimum age 18.Due to current banking situation no mortgages are being offered at present. |
| MOROCCO | From 5.43% | Residential. | 70,000 Dirhams | 70% loan to purchase price. | 25 years | 65 | Capital and interest. | Dirhams | Affordability based on serviceability. Deposit of 6 months mortgage installments may be requested to be held in bank account. Rates revised annually, fixed for 5 years or fixed for duration of mortgage. |
| PANAMA | From 6.5% | Residential and Construction | Dependent on case | Dependent on case | 30 years for residential purchase.18 months for construction finance. | 75 | Capital and Interest | USD | Affordability based on applicants financial standing and ability to repay loan. |
| POLAND | From 6.62% | Residential purchase,Buy-to-Let,Land Purchase,Refinance, Remortgage and Commercial. Development Finance. | Not Applicable | 100% of the property value for Zyloty mortgages. 75% for Sterling or Euro mortgages. | Up to 40 Years | 70. | Capital and Interest with initial up to 5 years interest-only | Euro,Zloty,Sterling. | Buy-to-Let - based on confirmed main income plus 50% of projected rental income. Fixed rates available. |
| PORTUGAL | From 1.74% | Residential, Self Build, Off Plan Staged Payments | call for details | 80% Loan to Value | 2 to 30 Years available | 75 | Capital repayment or Interest only options available. | Euro | Liabilities including cost of new mortgage in Portugal not to exceed 60% of net income. |
| REPUBLIC of IRELAND | From 4.25% | Residential, Investment | N/A | 75% purchase price/valuation whichever is the lower. | Up to 25 years | 65 | Capital and interest. Interest only available for 1 year. | Euros | Approval of loan subject to evaluation of appicants financial standing and repayment ability. |
| ROMANIA | From 7.46% | Purchase of houses/apartments. | €60,000 | 70% loan to value. | 35 | 70 | Capital and repayment | EUR | Total debt should not exceed 40% of income. This includes new Romanian mortgage. |
| RUSSIA | USD 11.5%. Euro 13.5%. Rubles 15%. | Purchase of apartments, Land and Commercial Real Estate. Re-finance also available. | 20,000 USD. | 1,000,000 USD. | 1-50 years. | 70. | Capital and Interest | USD, Euros or Rubles. | Lombard program, without verification of income-up to 50% of the appraised value of property. Applications approved on a case by case basis. |
| SINGAPORE | From 1.59% | Purchase or remortgage | 100,000 GBP | 70% loan to value | 30 years. | 70 | Capital and Interest or Interest Only | SGD | DEBT SERVICE COVERAGE RATIO: 50% of net income. (New mortgage payment is calculated on a capital and interest basis, even if interest only period is chosen and on the product rate plus 5%) and 5 x gross income per applicant. PENSION INCOME: Accepted, based on net income. OVERTIME: 100% considered BONUSES: 100% considered EXISTING RENTAL INCOME: Accepted, based on up to 70% gross income on worldwide properties. PROJECTED RENTAL INCOME: Not considered. |
| SLOVAKIA | From 5.1% | Residential, Investment. | £10,000 | 70% to 90% of the properties purchase price | 20 to 30 Years available | 65 | Capital and Interest. | Slovak Crown | Your Loan is based on your joint net take home pay. All your existing liabilities including any mortgage/rent payments, personal bank loans, credit card payments etc together with your proposed Slovak mortgage payments must not exceed 35% of your net monthly income. |
| SOUTH AFRICA | From 10.50% | Residential, Investment, Re-financing for home improvement only. | Rand 100,000 | 50% non South African National. 80% South African National. | 20 Years available. | 65 | Capital and interest | South African Rand | 35% of net income less any other liabilities, i.e mortgage, loans and credit cards. |
| SPAIN | From 1.77% | Residential purchase, Buy-to-Let, and Re-Mortgages. | 30,000 Euros. | Up to 70% loan to purchase price. | 5 - 40 Years available | 80 | Repayment mortgages (Capital and Interest) or Interest only (restricted availability) | Euro | Your Loan is based on your joint net ‘take home’ pay. All your existing liabilities including any mortgage/rent payments, personal bank loans, credit card payments etc together with your proposed Spanish mortgage.PROOF OF INCOME IS NORMALLY REQUIRED |
| ST LUCIA | From 3.67% | Residential, investment and re-mortgage. | $250,000 USD | 60% Loan to value | 20 years | 65 | Capital & Interest. 5 year interest only option available. | USD, GBP, EURO, | Mortgage assessed on basis of serviceability and amount of disposable income after normal expenditure. |
| SWEDEN | From 3.25% | Residential and investment | 500,000 GBP | 75% loan to value. | 25 years | 65 | Capital and interest | Swedish Krona, GBP | Mortgage assessed on the basis of serviceability and amount of disposable income. |
| THAILAND | From 6% | Residential, Freehold condominium property | S$100,000 or 60,000 USD | S$1,000,000 or 600,000 USD Up to 70% of purchase price or valuation whichever is the lower. | 20 years | 65 | Capital and interest. | SGD, USD | Approval of loan subject to evaluation of applicants financial standing and repayment ability. Minimum earned income should be equivalent of 65,000 USD. DUE TO CURRENT BANKING SITUATION RESTRICTED TO SINGAPOREAN AND MALAYSIAN CITIZENS ONLY> |
| THE PHILIPPINES | 10% | Purchase | N/A | 60% of purchase | 15 years | N/A | Capital & Interest | USD | Minimum age 21. Non Status. No Early Repayment Penalties. Thsi is for an exclusive development only. |
| TRINIDAD and TOBAGO | 3.95% | Residential and investment | N/A | 60% valuation or purchase price whichever is the lower. | 20 years | N/A | Capital and Interest. 5 year interest only option available. | Trinidad and Tobago Dollar (TTD)or USD. | Debt servicing ratio including new mortgage must not exceed 35% of gross income. |
| TURKEY | From 4.05% | Residential purchase, re-mortgage, equity release and buy to let. | €25,000 (Restricted products). | 75% | 20 years. | 70 | Capital and Interest. | Euros, Sterling, | A 75% loan to value is available at higher interest rates. Free valuations available. |
| TURKISH REP N.CYPRUS | Not available | Residential on Pre 1974 Turkish Title land or Eshdeger. | £26,000 | 70% Loan to Value or purchase price whichever is the lower. | 5 to 15 years | 70 | Capital & Interest | Sterling for UK citizens. Euros for Irish Nationals | Minimum age 25. Debt to income ratio 50%. Due to current banking situation no mortgages are being offered at present |
| U.S.A (FLORIDA) | From 2.09% to 4.75% for 75% mortgages | Residential and investment | $50,000 USD | 50% to 70% loan to purchase price. | 30 years | US banks have no age restriction. Other lenders will restrict term to maximum age of 70. | Capital and interest or interest only | USD or GBP | Based on serviceability. Self- certification available,low documentation, but may restrict maximum loan and interest rate. |
| U.S.A (Selected States) | 2.09% to 4.75% | Residential and Investment. | $50,000 USD | 75% of purchase price. | Up to 30 years. | Depends on State. | Capital and Interest although interest only is possible with conditions. | U.S Dollars or Sterling. | Each case determined on its own merits and dependant on which State. Sterling mortgages available on purchase price of minimum 412,000 USD. |
| United Kingdom | From 2.89% | Purchase, remortgage of existing borrowing with another lender. | $150,000 or currency equivalent. | 70% Loan to value | 30 years. | 70 | Capital and Interest or Interest Only | GBP | Investment properties. |
Although every effort has been made to ensure the accuracy of this document always check with ConnectOverseas.co.uk or call 01708 676 134 for the latest terms May be reproduced for reference purposes only, all data remains copyright of ConnectOverseas ©2008 - ConnectOverseas.co.uk PRINTED: 08:57:05 | 7 September 2010 |