International mortgage applicants must not forget the fundamentals

Fri, 10 Feb 2012
By Martin Dixon

Individuals applying for an international mortgage in order to secure a move abroad must not forget the fundamentals when buying property overseas .

Liz Rowlinson, editor of Aplaceinthesun.com - the website for consumer lifestyle magazine A Place in the Sun, the official publication for the Channel 4 series of the same name - explained people need to bear in mind factors such as location and access, adding purchasers need to do all they can to ensure they do not get swept up by "silly prices".

The industry figure suggested: "Buying knock-down, bank-owned properties in the markets of Spain or America offer their own challenges and you should not jump in without expert advice and independent legal counsel."

Those considering their international mortgage options may therefore want to take their time before deciding on a deal that is most suited to their personal circumstances. 

Ms Rowlinson went on to point out that emerging locations currently have a lower profile than they have enjoyed in recent years, yet Albania and Montenegro are gaining ground on the popular destination of Croatia and micro-markets such as Sardinia and Sicily are also gathering pace.
 
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