Hi,
Does anyone know of any banks that will lend for purchasing international property?
[?]
Cheers
It it is going to be, it is up to me….
Below is my response to your post in the “Help Needed” forum.
“I was wondering if anyone knows if an Australian can takeover an assumable mortgage in another country?”Depends on the country and its foreign investment policy.
Check whether the country where you plan to invest permits foreigners to own property. Many countries do not permit foreigners to acquire real estate without immigrant status.
Also, there may be restrictions on buying a property type or in a specific location.
A method used to purchase real estate in a foreign country is to set up a trust [if applicable to non-residents] and then lease the property.
First consult with a reputable lawyer – the Australian embassy or consulate in the country where you plan to invest should have a list of qualified lawyers.
Before you make a real estate purchase, understand the customs and laws of the foreign government with regard to real estate. In the event of a dispute, you will have to abide by local laws.
“Also, are there any lenders in Australia that will lend you $$$$ for international property investing?”
Most institutional lenders will provide financing for offshore investment if the loan is secured where it originates i.e. in Australia.
— Michael
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