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From the glamorous Riviera to the financial hubs of Switzerland, European real estate is perennially popular with high net worth individuals. With a range of stunning properties on offer across the continent, finding a property is usually simple enough. Financing the purchase, however, is another matter; it can be difficult to know where to start, let alone successfully secure mortgage terms.
Some investors, therefore, hope they can simplify the matter by using their existing private banking relationship, or even approaching lenders directly. However, this is rarely the best solution: if you use a mortgage broker to get a large international mortgage, you will most likely be able to secure a better deal.
Using a specialist international mortgage broker means you don’t have to worry about navigating the complicated processes involved in international finance. Our team has the technical knowledge to deal with complicated financial cases. And of course, we have relationships with lenders across Europe who are ideally placed to assist high net worth individuals.
Using a mortgage broker to get a large international mortgage means you can access lenders which are local to the property. No matter where you’re from in the world, we would usually advise you to finance your European property through a local lender. For example, whilst British clients could potentially get a UK bank to lend in Europe, local banks have better insight and can usually offer you a better deal. French banks typically only do French mortgages, for example, so they have the correct processes in place and are geared towards French property. Your own bank will generally refer you to their wealth management team, but if you want a competitive dry loan, it is best to approach a local bank.
Using your current lender may be appealing because you feel you know and understand the culture of the lender. If you have a pre-existing relationship with a bank who will lend internationally, this warm relationship may motivate you to approach them for a loan. You may also be hoping to approach your current lender for language reasons. If you are not fully bilingual, you may have reservations about applying to a European bank.
Using a broker such as ourselves is the best way to mitigate both of these concerns; myself and my team are fully multi-lingual, and have a huge network of excellent contacts. We can help you to build a new relationship, securing you the best possible rates.