Remortgaging an Overseas Property.

More and more foreign property owners are realising the potential of their overseas homes to raise finance, for a variety of reasons:

• Fund the purchase of another property: to provide the deposit for a property purchase in your home country or overseas.
• Pay for home improvements — to fund renovation work or major repairs.
• Manage or repay existing debts — by releasing equity from an overseas asset, you could set it against your UK property to help get a better mortgage deal.
• Take advantage of lower interest rates — by remortgaging with a more competitive rate of interest, you could reduce current monthly repayments on your overseas property.
• Reduce inheritance tax liability — in certain countries, liability can be reduced if there is a bigger debt on the property.

When considering a lender for the remortgage of your overseas property, ask yourself the following questions:

• Can you get a mortgage in the country you're interested in? Does the lender cover the country where your property is located?
• Can you get a mortgage in the currency that suits you? And does your lender allow you to switch the currency of your mortgage to reduce the value of the debt?
• What fees or penalties are associated with the mortgage? Are there penalties for early repayment or buy to let properties, and how much will you have to pay for valuation and insurance?
• What is the maximum repayment term? And what age limit is applied to the longest loan term?
• Does your lender provide associated services? — Do they work with legal or tax advisers to handle more complex queries related to the country and property you are remortgaging?

At Lloyds TSB International, we arrange mortgages for a variety of applications in a range of countries. See the International Mortgages country list.

Your overseas property can be remortgaged in most major currencies including Euro, Sterling and US Dollars. More information and full list of currencies.

By switching to the International Mortgage Service you could:

• Save money on your repayments.
• Release funds tied up in overseas property.
• Re-finance property in several locations into one manageable loan.
• have your mortgage paid by direct debit through an offshore International Account.

To check you're eligible for an International Mortgage and start the application process, go to ready to apply.

For more information about the process, call 01624 647523 or contact us online.

Lloyds TSB Offshore was named Best Overseas Mortgage Lender 2010-2011 by Your Mortgage.

We offer flexible international mortgages at competitive rates of interest. See our rates, charges and conditions.

See more reasons to choose Lloyds TSB International.