Moneynetinternational has launched an international financing service that enables internationally-b...
Moneynetinternational has launched an international financing service that enables internationally-based property purchasers to raise finances easily in order to buy property in many different countries. These countries would include America, Europe, South Africa and Australia.
One of the more distinctive characteristics of this service is the Property Portfolio service, whereby a client can build a property portfolio by investing in more than one property across different countries.
'We offer a unique portfolio service in which clients can buy in any currency they choose,' said Jason Hulott, Head of Business Development at moneynetinternational.
Clients need to fill in an enquiry form on the web site, moneynetinternational.com, and will then be contacted by the brokers about the property they are interested in buying and their financial requirements. The broker will advise the client on the best way to proceed. Clients are subject to the property laws and local taxes of the country in which they have taken a mortgage and it is the responsibility of the lender to make sure that the client is adhering to these.
The service is offered in conjunction with the mortgage brokers OneMortgageSolution, who have arranged funding through a number of international banks.
The company has the property contacts of lawyers, solicitors and lenders in order to speed up the purchase. Full disclosure of client information will be required.
The maximum borrowing is 80% subject to the client's condition; there are no early repayment or letting penalties. If the loan is under 75% of the property price, then the client may borrow in any currency. In the case where the loan is over 75% the client will have to use the currency of the country where the property is located. Types of mortgages available are capital and interest, endowment, pension-linked and savings.
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