The MHI Group is a market leader in overseas mortgages, with access to a comprehensive range of mortgage schemes.
With offices in the UK and Spain, The MHI Group are able to offer advice on mortgage products and also assist if you are looking to release equity from property owned in the UK to help fund deposits, stage payments and associated costs.
Buying a property overseas can often be a complicated process, facing challenges of a different language, legal system and processes. The honest, reliable and efficient help of an advisor can take a lot of the stress involved in buying a home away.
At The MHI Group we aim to make the purchase of your overseas home as smooth as possible.
You can rely on our proven experience in the mortgage market which enables us to find the most suitable solution for your needs.
For Developers/Agents (Services Summary)
f you are an Estate Agent, Finance Broker or a Developer, you will have noticed that it is now much harder to find mortgages for your clients.
If you can find a lender, you may find that:
- many of the conditions are far more onerous
- the required documentation has now increased enormously
- proof of deposit payment is usually required
- Credit reports are now being asked for.
By using The MHI Group you will be dealing with experts in the mortgage market.
We know which banks to approach with each individual case. And because of the volume of business we place with them, many are often happy to overlook some small technicalities in order to get a percentage of our overall mortgage business.
By using our free client pre-qualification service you can save time and money and let us take the difficulty out of getting your clients mortgages approved quickly and efficiently.
Yes, there is no problem for you to get a mortgage as long as you can prove your income, and that you can afford the repayments.
We are also able to help citizens from outside the EU, i.e North Africa or South America. As normal, the ablility to repay is paramount.
Not always, although some lenders may insist on this, and offer preferential mortgage terms if you do.
Normally you can only lend against the purchase price without the associated taxes that are payable.
The maximum amount you can normally borrow, as a non-resident will depend upon which country you are purchasing in.
You can apply for a Decision in Principle immediately. We would normally recommend you apply for the full mortgage about three months prior to the completion of the property.
The maximum amount will depend upon which country you are purchasing in. The maximum amount you can normally borrow, as a non-resident will depend upon which country you are purchasing in.
Loans are now available to purchase any type of residential property, whether a small apartment, townhouse, large villa, or new development.
Once you have decided that you wish to proceed with arranging a mortgage secured on an overseas property it will usually take in the region of 4 weeks.
Yes, it will be a condition of your mortgage that buildings cover is taken, either via the bank or through an approved insurance company.
Redemption penalties are applied by most banks. These vary between lenders. We have access to No penalties schemes for clients looking for more flexibility.
This will depend upon your age and country you are buying in. Please refer to our ‘Countries’ page.
The Bank will appoint a valuer from the Bank’s panel of valuers to carry out a valuation for mortgage. The cost of this will vary dependant upon the purchase price of the property, but, as a guide, €500. The cost of which is to be met by you prior to the valuation being undertaken.
This will depend on your circumstances, i.e. employed or self employed, but as a guide lenders normally require the following;
- Copies of passports.
- Copies of last 3 months personal bank statements
- Copy of your full credit report. This can be obtained at: www.experian.co.uk
- Proof of savings & deposit payments made
- Proof of income
1 or 2 years P60´s
Last 3 months payslips.
- SELF EMPLOYED
1 or 2 years Inland Revenue tax returns.
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