If you are considering investing in offshore property you should make sure you take specialist mortgage advice. The house buying process varies considerably from country to country, with different legal systems and local customs.
Off-shore mortgages can be very tax-effective for a certain category of borrower seeking to purchase property in the UK, although due to recent changes in the law you should always ensure that you take personal tax advice – especially because offshore mortgages and offshore tax planning can be very complex.
Generally speaking, people who can apply for offshore mortgages include UK resident non-domiciled individuals and non-UK residents. Large Mortgage Loans deal with both.
Should you wish to structure your mortgage offshore, through a limited company or offshore trust, in sterling or in another currency, we are able to assist.
For most people the best option is to arrange your overseas mortgage in the currency you earn income in. If however you are planning to receive rental income from your property in the local currency then a mortgage in the local currency may be the better option, depending on the mortgage lender’s criteria.
We understand the complex nature of offshore mortgage lending and work with many private banks who have a flexible approach to underwriting, tailoring a mortgage specific to your individual needs.
The levels, bases and reliefs from taxation depend on the individual circumstances of the investor.
