Friday, March 12, 2010

Is it possible to take a home loan on a house abroad?

I have an Australian wife, and she is looking forwards to moving to Australia one day, however, the home loan rate over there is usually above 7% which is much more than the relatively low 4,25% offered here.





Is it possible to pay off a house in Australia with a home loan from my country? If so, what kinds of fees are there? Any personal experience is appreciated.

Is it possible to take a home loan on a house abroad?
What you ask is possible but you must use the right words.


If you can buy the house in Australia, the banking establishments


want you to make the mortgage payments. They do not care


how you do it.





If you can borrow the money here against the property you


have here and use the funds to pay the mortgage there, all is


well as long as the banker here gets their mortgage payments.


If one of the properties is rented, or used for housing for a


relative (who pays enough to make the mortgage payments)


again all is well.





In no case does Australia or America Bankers want to hear


that you are sending funds to another country. (DON'T TELL


DON'T ASK) Pay all bill Early and in full.





The usual way to handle this problem is to buy an income


producing property in the country where you are currently


living. And an income producing property in the country


where you want to live. As a result of two income producing


properties, you will have assets that will pay for the property


you want when your decide to move.





The sooner you start this project the better off you will be.


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