Overseas remortgage to unlock your home’s equity
If you are looking to invest in another property in France or want to release some of the equity from your present one, it may be worth considering an overseas re-mortgage. Re-mortgaging is usually done to either save or raise money and can be a handy way of getting your hands on some extra finance during the current ‘credit crunch’.
Overseas re-mortgage to pay off debts
With the pound currently weak against the euro, equity tied up in French properties are worth a great deal more when converted back to sterling and can be used to pay off debts back in the UK. They can also be used to inject some money into UK properties to bring down the loan-to-value ratio of the house.
In the current economic climate, many Brits are feeling the pressure to sell their properties in France. However, the strong euro has meant that sellers are unable to make any money on the sale of their properties and are stuck paying expensive mortgages on homes in the UK and abroad. By re-mortgaging your French home where interest rates are much lower, the need to sell can be avoided and expensive mortgage rates can be cut, generating money to spend on any debt repayments back in the UK.
Take advantage of an overseas re-mortgage
There are currently over two million UK residents who own a home abroad. Many of this number will own a house in France and could benefit from re-mortgaging their home. As well as being used to pay off debts, released equity could pay for property improvements or extensions so that when it does come to selling your property abroad, it will stand in good stead for attracting serious buyers.
Give Conti a ring for overseas re-mortgage advice
If you want some re-mortgage advice, give the specialists at Conti a ring. With plenty of experience in overseas mortgages, they will be able to give you the information you need to decide whether re-mortgaging your property will be right for you.
Their attractive re-mortgage rate of 2.94% could help you release the equity you need to pay off your debts or pay for a deposit on a house you’ve always wanted.
Give one of their friendly advisers a call today to find out more about overseas re-mortgage on 01273 772811.
0800 970 0985