Barclays Launches New Mortgage Product

By: Dawie

Barclays and ABSA (South Africa) has launched a new mortgage product that will allow UK citizens to buy property overseas and non-UK citizens to buy property in the United Kingdom.

ABSA is the largest mortgage provider is South Africa. Together with Barclays the make the perfect team in providing expert mortgage advice and offer the best mortgage products for Barclays and ABSA costumers.

Barclays international mortgages will introduce you to experts who will give you the necessary advice on tax implications, exchange control regulation, legal contracting across borders, credit lending policies and economic outlook on interest rates and exchange rates.

For international investors, whether they decide to buy a home in South Africa, a holiday home or just invest, will be given the necessary expert advice and guidance from ABSA international mortgage. They will also be given tools, designed and developed to best meet their needs.

There are some aspects that affects the home loan applicants like the foreign exchange control rate when they decide to purchase a property in a foreign country. For example, if a UK resident wants to purchase a property in a foreign country, they can only do so if Barclays is present in that specific country. They will also need to comply with the exchange control rulings which states how much money you are allowed to take abroad. UK residents or any other resident, where Barclays is present can qualify for loans up to 50% of the total loan value in South Africa.

South African residents who wish to purchase a home in the UK or any other territory where Barclays is present will be assured to be assisted by a reputable financial institute that has an established pedigree in financing international purchases.

Barclays joined together with ABSA forms the perfect solution for investing in property abroad.

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