Mortgages Uncovered

According to Rhiannon Davies, director of ShelterOffshore.com, any potential or current expats are struggling to raise money for international mortgages because of the current mortgage market an credit crunch.

She says that they are finding it hard to get mortgages, either within the UK or abroad, to buy property in foreign countries.  It can be beneficial to buy property in a dollar-based country, such as the USA, because of the current exchange rate if they have pound sterling in the bank.  Naturally, such advantages can only be temporary as the exchange rates fluctuate.  Such an advantage could be a disadvantage tomorrow.

According to the NatWest International Personal Banking Expat Wealth Ranking Survey undertaken with think tank the Centre of Future Studies, professionals who are planning to move abroad may expect to be better off financially.

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