How To Get The Best Expat Mortgages

How To Get The Best Expat Mortgages

Expatriates usually have a difficult time finding a suitable mortgage for their property acquisition needs. This is because the vast majority of lenders do not lend to foreigners. Fortunately, there are some lenders who normally offer expat mortgages. What is important to these firms is that the borrower is a legal resident who has the ability to service the mortgage effectively. Only borrowers who can come up with the deposit required by the lender can qualify for these loans.

You will need to compare the interest rates charged by different mortgage lenders because you are looking for an affordable mortgage. The repayment period for mortgages meant for expats may be a little bit shorter because the term cannot be longer than the duration of the legal stay of the borrower. If you have a 7-year visa, then the mortgage term cannot exceed that term.