There are many true sayings, but probably the truest in the current economic climate is that one man's loss is another man's gain.
The credit crunch has been with us for over two years now, and it has caused many families to struggle with family income which has gone down due to various factors, including that most awful of human conditions, and that is redundancy.
Even those who were well off up until 2007 and ran successful businesses, and enjoyed the lifestyle that high earnings bring have been severely affected by the credit crunch.
Self employed individuals often owned properties abroad both in European resorts, and also in further flung destinations. Through earning much less now than before the credit crunch or even worse through the total closure of their companies, many can no longer afford the luxury of a second home, and have been forced to sell them at reduced prices. Th properties repossessed by the building societies are selling for even less.
If you have always wanted a second home but thought that it was outwith your financial comfort zone you should think again. Property bargains will not last forever, and if you have always wanted a foreign property you should no longer put your plans on hold.
There are mortgage lenders who lend on properties abroad, and in fact it is what they specialise in.The drawback is that the maximum mortgage available is 70% LTV.
An excellent way to buy a second home is by releasing equity tied up on your primary residence by taking out a secured loan or a remortgage which can both help fund the foreign home purchase. These are both homeowner loans and both achieve pretty much the same things.
Secured loans , before the credit crunch, were available up to as much as 250,000. However now secured loans are restricted to a maximum of 100,000 which is still more than enough to give you a fair choice of properties.
If a secured loan does not enable you to buy the foreign property you want you can always seek a remortgage instead.Remortgages are available up to 90% LTV .
Buying a dream home abroad to give you wonderful holidays forever is a great use of a secured loan or a remortgage. - 29904
The credit crunch has been with us for over two years now, and it has caused many families to struggle with family income which has gone down due to various factors, including that most awful of human conditions, and that is redundancy.
Even those who were well off up until 2007 and ran successful businesses, and enjoyed the lifestyle that high earnings bring have been severely affected by the credit crunch.
Self employed individuals often owned properties abroad both in European resorts, and also in further flung destinations. Through earning much less now than before the credit crunch or even worse through the total closure of their companies, many can no longer afford the luxury of a second home, and have been forced to sell them at reduced prices. Th properties repossessed by the building societies are selling for even less.
If you have always wanted a second home but thought that it was outwith your financial comfort zone you should think again. Property bargains will not last forever, and if you have always wanted a foreign property you should no longer put your plans on hold.
There are mortgage lenders who lend on properties abroad, and in fact it is what they specialise in.The drawback is that the maximum mortgage available is 70% LTV.
An excellent way to buy a second home is by releasing equity tied up on your primary residence by taking out a secured loan or a remortgage which can both help fund the foreign home purchase. These are both homeowner loans and both achieve pretty much the same things.
Secured loans , before the credit crunch, were available up to as much as 250,000. However now secured loans are restricted to a maximum of 100,000 which is still more than enough to give you a fair choice of properties.
If a secured loan does not enable you to buy the foreign property you want you can always seek a remortgage instead.Remortgages are available up to 90% LTV .
Buying a dream home abroad to give you wonderful holidays forever is a great use of a secured loan or a remortgage. - 29904
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