Hi Iam new to this site.
Iam trying to buy properties overseas.
Can someone give me the names of good financial companies I can use.
Thank you very much.[hmmm]
Where overseas were you thinking of investing, close to home or further a field?
Julie
No lender in Australia will lend for property overseas with the exeption of property in NZ. You need to use a lender based in the country you wish to purchase in, or use a LOC secured on an AUstralian property.
Terryw
Discover Home Loans
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Hi Terrry and Julie,
Do apprecaite your reponds.
Firstly I’m trying to buy properties in developing pacific countries.
Basically, I’m trying to capitalise on the strong Aussie Dollar against them. In otherwords, you get to buy 2 or 3 times more with the same dollar in here.(In otherwords A$400,000 can snatch up to a million dollar building)
Overtime when (5 years..from my research) thier local currency peaks up, I basically enter Australia again with a bigger buying power. It is a high a risk, but I have lived, grown up and work around them, and have a very good understanding of I would say everything.If there is no institution that can facilitate this, I guess we have to use our own savings.
Let me know your thoughts.
Thanks in advance
KunuweOr approach a bank in the country where the property is located.
Terryw
Discover Home Loans
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Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Yes I think we will be able to help you with loan as long as you have a collateral in Australia.
Equity Finance & Mortgages Pty Ltd
mob: 0413 594 675I think anyone can do that.
The post is requesting an overseas lender to finance overseas security. I have done many US and UK deals but as Terry points out you will need to approach a lender in the country where the security is based.
Not bad though been a member 11 days, 17 posts, 17 advertisements for business and still not accepting emails.
Richard Taylor | Australia's leading private lender
Don't worry Richard;
we are on to him/her/them and I'm sure the other forumites are as well, and will tread warily.Marc
It is just amazing. I just love posters who just have a mobile number no landline or email address for people to do their due diligence prior to contacting someone and are here merely for the touting of new business.
Richard Taylor | Australia's leading private lender
OK, so please be gentle…..I am just trying to understand all this……
I am considering buying a property in Asia. I do have savings and could use these, but I would rather not tie up all my savings in a purchase. So therefore I want to borrow money.
Reading above I cannot get a standard mortgage from and Aussie institution to buy a purchase abroad….is this correct?
From my research there is only one organisation on the country I am thinking of buying in that could loan me the money, so this might be an option, but I think the bureaucracy would be awful.
So, my preference would be to borrow the money in Australia to finance the purchase. Is this somehow possible?
Please can someone explain the LOC concept to me – in language that a complete bozo would understand.
Thanks
Rudi
Think of a line of credit as a great big credit card, but secured against your property as opposed to being unsecured like a normal credit card.
You have a limit and an interest rate and you have to pay x% of the outstanding debt each month, not an MMP as such like with a standard mortgage…
Rudi
If you are thinking of buying in Thailand, I beleive the Bangkok bank, Singapore branch used to lend to non-residents, but they have recently stopped doing so.
Another option is to buy something with Vendor finance. This is where the owner will let you pay them off in installments. I have seen a few ads for these deals in Thailand.
A LOC will only work on Australian property with equity available.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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