Finance

Finance is offered by a large number of financial institutions so carefully evaluate those which dovetail into overall plans the best. Remember that the cheapest loan may not be the best for your individual circumstances. There may be clauses in the small print like early redemption penalties which could prove expensive if you want to repay the loan early.

Cash
You may have access to cash that is currently placed in Bank / Building Society savings accounts, Individual Saving Accounts (ISAs), Stock & shares, or even friends and relatives who may wish to jointly purchase with you. The benefits of buying with cash is that there is no on-going interest liability.

Developers Mortgage
In a few cases fractional property mortgages or finance schemes are offered by the Developer themselves, often at preferential rates, and often with easier lending criteria than would be offered by other methods of financing.

Remortgage your existing UK property
If you are already a UK homeowner you may have a large amount of equity built up in your existing residence. You can 'release this equity by means of a remortgage or further advance. You should seek expert help from a professional mortgage broker who would be able to locate the best mortgage at a competitive interest rate. We would recommended the services of International Mortgage Brokers who have a wealth of experience, gained over many years, in this type of mortgage business.

Secured/ Homeowner Loans
Homeowners can also raise finance by means of a loan secured on your current residential property. These loans will be subject to a maximum advance of £25,000. Interest rates on this type of loan would usually be a little higher than those on a remortgage.

Unsecured Loans
These are loans provided by a number of lending institutions such as Banks, Building Societies, specialised credit agencies and even supermarkets. Interest rates will vary greatly so it will pay to shop around for the best deal. A serious drawback is that they are often restricted by the years in the payback period. Furthermore this is usually the most costly way to raise finance as interest rates are higher than those available by other means mentioned.