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Old 05.05.2015, 15:05
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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.
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Old 05.05.2015, 15:08
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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.
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Old 05.05.2015, 15:15
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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.
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Old 05.05.2015, 15:21
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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.
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Old 05.05.2015, 15:25
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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.
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Old 05.05.2015, 15:51
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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!
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Old 05.05.2015, 16:19
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Re: Financing an overseas property

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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?
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Old 05.05.2015, 16:28
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Re: Financing an overseas property

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Or do I get in touch with UBS?
Walk into a branch in Zurich.
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