Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #1  
Old 05.05.2015, 15:05
Divesnowboy's Avatar
Senior Member
 
Join Date: Feb 2011
Location: Konwileggdorf
Posts: 484
Groaned at 5 Times in 4 Posts
Thanked 354 Times in 167 Posts
Divesnowboy has an excellent reputationDivesnowboy has an excellent reputationDivesnowboy has an excellent reputationDivesnowboy has an excellent reputation
Financing an overseas property

Hello all.
I was planning on buying property abroad, hopefully this year.
I applied through Credit Suisse to no avail at all, shot down before I even made the application.
Can any of you good people suggest a financial institution that would entertain such an undertaking?
Thanks in advance.
Reply With Quote
  #2  
Old 05.05.2015, 15:08
NotAllThere's Avatar
Forum Legend
 
Join Date: Oct 2008
Location: Baselland
Posts: 9,187
Groaned at 142 Times in 124 Posts
Thanked 12,680 Times in 5,148 Posts
NotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond repute
Re: Financing an overseas property

At what point in the discussion did they say no? Is it just they won't lend for financing overseas, or you don't have a big enough deposit? Some indication would probably be helpful to get useful answers.
Reply With Quote
This user would like to thank NotAllThere for this useful post:
  #3  
Old 05.05.2015, 15:15
TheSpouse's Avatar
Forum Veteran
 
Join Date: Dec 2008
Location: Lausanne
Posts: 1,397
Groaned at 21 Times in 15 Posts
Thanked 2,207 Times in 715 Posts
TheSpouse has a reputation beyond reputeTheSpouse has a reputation beyond reputeTheSpouse has a reputation beyond reputeTheSpouse has a reputation beyond reputeTheSpouse has a reputation beyond reputeTheSpouse has a reputation beyond repute
Re: Financing an overseas property

We bought a second home in France while living here in Switzerland and we used HSBC in the UK for the mortgage. They had no problem with all of the extra issues involved, so give them a try.
Reply With Quote
This user would like to thank TheSpouse for this useful post:
  #4  
Old 05.05.2015, 15:21
Sbrinz's Avatar
Forum Legend
 
Join Date: Oct 2011
Location: Murten - Morat
Posts: 11,132
Groaned at 546 Times in 346 Posts
Thanked 10,724 Times in 5,500 Posts
Sbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond repute
Re: Financing an overseas property

Many years ago I tried to buy a house in UK with a German bank loan at 5%
There were a few difficulties, even with me investing 40% my English bank refused to give a guarantee. I think they wanted to sell me the loan.

The German bank said, we will lend you any sum, we just need somebody in the UK to guarantee the loan, so that if I defaulted, they could get the debt repaid.

Maybe you could try the same tack. Line up a bank loan here and get the foreign bank to guarentee it. Normally you pay the foreign bank 1% each year and they keep the house documents. If you don't default, it's easy money for them.
Reply With Quote
This user would like to thank Sbrinz for this useful post:
  #5  
Old 05.05.2015, 15:25
roegner's Avatar
Forum Legend
 
Join Date: May 2011
Location: Zurich
Posts: 3,587
Groaned at 98 Times in 75 Posts
Thanked 3,735 Times in 1,903 Posts
roegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond reputeroegner has a reputation beyond repute
Re: Financing an overseas property

I asked UBS to revert me to a bank in Germany, with whom they work to finance properties in other countries than Switzerland. Worked like a treat, the German bank arranged the financing and we bought a house in Germany.
Reply With Quote
This user would like to thank roegner for this useful post:
  #6  
Old 05.05.2015, 15:51
Divesnowboy's Avatar
Senior Member
 
Join Date: Feb 2011
Location: Konwileggdorf
Posts: 484
Groaned at 5 Times in 4 Posts
Thanked 354 Times in 167 Posts
Divesnowboy has an excellent reputationDivesnowboy has an excellent reputationDivesnowboy has an excellent reputationDivesnowboy has an excellent reputation
Re: Financing an overseas property

I plan on buying land already with the building survey done, developing the property from there, not necessarily building a house in the first few years.
The overseas bank had a problem with this, I guess they wanted some kind of guarantee the property would increase, or at least, hold it's value...
I was offering around 60% down also.
I spoke with the Credit Suisse rep, and as soon as I mentioned overseas, that was that.
If you good peeps would PM me the German bank, that would be cool, ta!
Reply With Quote
  #7  
Old 05.05.2015, 16:19
Divesnowboy's Avatar
Senior Member
 
Join Date: Feb 2011
Location: Konwileggdorf
Posts: 484
Groaned at 5 Times in 4 Posts
Thanked 354 Times in 167 Posts
Divesnowboy has an excellent reputationDivesnowboy has an excellent reputationDivesnowboy has an excellent reputationDivesnowboy has an excellent reputation
Re: Financing an overseas property

Quote:
View Post
I asked UBS to revert me to a bank in Germany, with whom they work to finance properties in other countries than Switzerland. Worked like a treat, the German bank arranged the financing and we bought a house in Germany.
Or do I get in touch with UBS?
Reply With Quote
  #8  
Old 05.05.2015, 16:28
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Misery-Courtion
Posts: 14,361
Groaned at 177 Times in 141 Posts
Thanked 10,370 Times in 5,912 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: Financing an overseas property

Quote:
View Post
Or do I get in touch with UBS?
Walk into a branch in Zurich.
Reply With Quote
This user would like to thank Medea Fleecestealer for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Tax Deduction for rental property overseas Megamind Finance/banking/taxation 12 15.08.2012 19:12
AMAG Financing on an L? jerallie Transportation/driving 5 08.08.2012 14:40
Mortgaging property overseas from Switzerland bomma Finance/banking/taxation 2 08.07.2010 12:00
Borrow in switzerland to repay a property loan overseas Beano Finance/banking/taxation 3 11.10.2007 18:09
buying (not financing) a car on an L permit? tgpt Transportation/driving 1 12.01.2007 09:49


All times are GMT +2. The time now is 07:25.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0