It is very important to us that our short-term investors have the greatest opportunity to sell on before completion. We only recommend developments where we can be most hopeful of good year on year growth, however, we must stress that property like stocks and shares may not necessarily leap upwards in value, let us offer you properties for short, mid term and long term investment, you can be certain we won’t give you over optimistic predictions, just the reality. We will also actively market the client’s unit to clients visiting us wishing to purchase near-complete property.

Q2 - What options are there for financing my property?

There are several ways to finance your property abroad. It is very important to have your funding in place prior to your reservation as properties are normally exchanged and completed within six weeks.

If you require finance to fund the purchase of your holiday home the two most common ways are to release equity in your UK property by re-mortgaging or by obtaining a mortgage. There are many different schemes on offer now both at home in Europe and elsewhere. It is perfectly straightforward and usually very quick to get your funding.

Q3 - Do you have details of the tax implications of my property purchase?

The taxation on your property purchase varies from country to country. For example, Margarita Island is a tax free zone but in Spain you will pay a 7% purchase tax. Just ask us what tax implications there are for the country of your choice.

Can I get a mortgage in the local currency?

Yes, but you need to be aware of all the risks. Taking out a foreign currency mortgage could be dangerous. You are exposed to currency fluctuations: the pound can move against the euro or the dollar - if it weakens, your payments will increase. On the other hand if you are buying property in another country your home will be valued in that currency so it could make more sense to borrow in that currency.

How long will it take to complete?

It depends on the country you are buying in. Buy property in France and it could take up to 20 weeks to complete the transaction. In Spain, Italy, Greece and Portugal it will average between 12 to 18 weeks.

I don't speak the language…

You will need a reputable local solicitor. We cannot emphasise this too much, it is money well spent and has saved many a client from disaster, so make sure you're getting independent advice.

Are there any extra costs?

Yes, usually there are local taxes, stamp duties etc to take into consideration. Just ask us what percentage of the sale to factor in for this and you won’t go far wrong.

What about day to day running costs?

You will be made aware before purchase whether service charges apply. You'll need to open a local bank account, as services such as water and electricity may only connect you if you sign a direct debit. We can usually recommend good local management companies that will be able to help you in running your home when you are living away. For a reasonable charge you can have peace of mind.

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