All Topics / Overseas Deals / What is the mortgage common rules on buying IP Overseas

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  • Profile photo of blazeblaze
    Participant
    @blaze
    Join Date: 2007
    Post Count: 60
    February 13, 2008 - 5:28 am

    Just hypothetically I have an asset of 200K either on a property or cash on a bank account.

    Then instead of purchasing an IP for 500K – LVR 80% here. (Repayment say no problem even on full doc) I like to buy one in overseas. Same value and LVR. Would that be doable?

    Otherwise what is the common requirements in buying IP overseas?

    Thanks,

    blaze

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 13, 2008 - 10:40 am

    You would need to approach banks in the country in which the property is located. Aussie banks here cannot help. Most would require you to be working in the country too.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of blazeblaze
    Participant
    @blaze
    Join Date: 2007
    Post Count: 60
    February 14, 2008 - 11:14 am

    Bugger! They are smarter than I thought ^_^

Viewing 3 posts - 1 through 3 (of 3 total)

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