Non-Resident Borrowers - Convici Capital

Non-Resident Borrowers

The world has become more accessible in terms of the ability to travel, work and spend extended periods of time in foreign countries. Non-resident mortgages cater to borrowers who wish to purchase property in countries where they are not resident.

Non-resident mortgages typically have stricter eligibility criteria compared to domestic mortgages. Lenders often require higher down payments and may demand a more extensive credit history and financial documentation.

One of the primary challenges of non-resident mortgages is dealing with currency differences. The mortgage terms are usually denominated in the local currency of the country where the property is located. This exposes borrowers to exchange rate fluctuations that can impact monthly payments and the overall cost of the mortgage.

Navigating the legal and tax aspects of non-resident property ownership can be complex. Borrowers may need to engage legal and tax professionals well-versed in the specific regulations of the country where they plan to purchase property. Some countries impose additional taxes or charges on non-resident property owners.

Explore our other financing options.

For individuals looking to purchase a home, investors seeking opportunities, or self-employed professionals, we diligently seek out optimal financing solutions tailored to match your distinct needs.

Speak to our team today.

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