Overseas

When buying a property, particularly in a foreign country, most of us need to call on the expertise of a professional. Savills Private Finance (SPF) has a team of professionals experienced in foreign property purchase and international mortgage advice. Our international division includes fluent French, Spanish and Italian speakers, enabling us to speed up the application process when dealing with local notaries and banks.

SPF can arrange finance throughout the UK and across Europe – in France, Spain, Portugal, Italy, Switzerland and Spain - and in the Caribbean and the US. We are fully independent, which means we can access all lenders – giving the client more choice and competitive rates.

We can pre-qualify your application before you start your property search to give you an idea of what you can afford. Whether you are employed, self-employed or retired, we will endeavor to raise the finance you need in the country of purchase or via the UK through tailored solutions specifically designed to meet your needs.

We also have a network of specialists with other areas of expertise, who can help you make an informed decision about your overall financial situation. Please contact us to discuss your proposed purchase.

Guide to purchasing an international property

• 1 - Decide on your budget: This is an important first step. There is no point in viewing property you can’t afford.

• 2 - Get a mortgage agreed in principle: Mortgage lenders will tell you whether you qualify for a mortgage and how much you can borrow even before you make a formal application. SPF provides this service at no cost. An agreement in principle lasts three to six months, which enables you to view overseas properties confident that a lender has pre-approved the finance.

• 3 - Find a property: Arrange to view properties, possibly sign a reservation contract and pay a holding deposit. You must seek independent legal advice before putting down a deposit or signing anything.

• 4 - Make a full mortgage application: Once you have made an offer on a property, the next step is to complete the full mortgage application form. If you have followed the above steps, this should be straightforward. SPF will assist you every step of the way.

• 5 - Valuation: The lender will require a surveyor to value the property. This takes place once a mortgage application has been submitted, although in certain circumstances SPF can enact this valuation at the first stage of the process.
  

• 6 - Completion: A date will be set for you to complete and for the property to be transferred to you.

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