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Old 14-12-2006, 04:17 PM
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Investy Investy is offline
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Arron, the first thing to know about foreign financing is that every agent will imply its easy as they want to sell u a property, however it isnt so.

Essentially they will lend typically using 40% of your take home income. This 40% must cover all mortgages including the new one.

Also the property and legal adequacy are key. Many many developers dont offer adequate financial or legal grounds.

Some investors sign a sales agreement 'purchase subject to suitable finance'.

My guidance is buy the best property you can as this will underpin the mortgability.
In my case - Morocco I went for the Kings 'Plan Azure' sites as they are the Government planned and backed entities. I went for Saidia which will have the biggest marina in the Med and eclipses all other resorts Im aware of. Also only a 3 hour flight and many celebs are buying here.
Easy to rent year round given many onsite rental agents and 3 18 hole golf courses plus 30000 guest per week to the 11 5 star hotels (these folk will be exposed to the limited private property for rent).

Non status mortgages up to 60% (possibly 80%) of the property value is supposedly available.

Turkey - Ive been, its ok but nothing special and further away than Morocco and not generaly seen as a winter destination so rental in winter are no good.
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