International Mortgage

[Kira]

LAST EDITED ON 09-Dec-02 AT 01:05 PM (GMT)

I have a friend who lives in Japan, he's British married to a Japanese, they don't own any property anywhere as yet.

They are both working, he is employed, she is self-employed. He has bank accounts in both the UK & Japan. So they're now wanting to buy a house in France.

Where does he go for a mortgage???

I've suggested a UK bank such as HSBC & get a euro mortgage OR to the French arm of Abbey National/Woolwich OR try the French route & go to a French bank.

1.Has anyone been through this or does anyone have any ideas what he should do/look for in getting a mortgage?

2.Can anyone offer advice about which bank gives a good service?

3.Anyone got some good internet links for banks & comparisons on Euro mortgages?

4.Do you think it'll be easy to get a mortgage considering the 'internationality' of it all???

Mazan/Baz et al ... are you there????!!!!

BONNE NOEL

Kira
(I think he was going to post this himself but got scared off with all the nonsense on here lately!!)

[Mazan]

There are a lot of questions here and no single answer.
He could get his mortgage in the currency that he has the least faith in as if that currency increases in value then he will end up paying relatively more if his income is in another currency. If that currency drops in value then he will be paying back less, of course.
For security he should only get a mortgage in the currency that his income is in as then he will have few repayment surprises, if any. Watch out for negative equity though.

UK banks are much more sophisticated and flexible when it comes to financial services. French banks are still very much in the dark ages.