Buying Property Ukraine
Buying Property Ukraine
How can I get a mortgage in the UK to buy property in Ukraine?
I want to invest with my wife in property in Ukraine. To get a mortage in Ukraine involves paying very high interest rates. I'm hoping it's possible to borrow money from a UK lender that is secured on a property in Ukraine. I'm looking for lenders that can provide this service. Thanks for any advice!
Thanks for responses so far - I should have added that my wife has a Ukrainian passport, so we will be able to purchase the property as a local.
1. If you have a UK property raise the capital against that by way of Further Advance (subject to income and equity)
2. Find a UK subsidiary of a Ukraine Bank and see if they can offer you a mortgage (don't even know if this option exists!)
3. Find a company or broker specialising in mortgages in foreign countries. The only one I Know of is Conti in Brighton (check yellow pages/Internet, not a recommendation).
As Ukraine is an up and coming nation, I think you may be saddled with the mortgage in their country route as no UK lenders I Know of offer mortgages in this country.
Best of luck.
Property in Turkey
Overseas buyers heading for the cultural shores of Turkey are on the increase. Buyers from the UK are increasing and so are German buyers all attracted to low priced real estate, a lower cost of living and a great climate.
It's official - Turkish Tourism is on the up as international visitors are attracted to the Turkish climate, lifestyle and quality holiday resorts. Overseas property professionals have also seen a rise in Turkish Property buyers seeking to secure a home of their own in Turkey. The Turkish Statistical Board recently announced that 9.6 million tourists visited Turkey in the first half of 2007, bringing in $5.9 billion. That compares to 8.27 million visitors and $5.7 billion in the first half of 2006. In July of 2007 there were an additional 3.6 million foreign visitors. That is over a 16% increase from July, 2006 when there were 3.1 million visitors. It is also the 8th straight month of tourism increases in Turkey, showing the increased strength and viability of the market. Overseas property professional are also reporting an increase in activity from buyers searching for a Turkish property. So what can you get for your money? Two bed freehold apartments start from GBP27, 000.
The combination of low property prices, low cost of living and increasing demand is forcing property prices up and increases of 20 - 25% pa are not unusual.
Property hotspots for growth are the area of Antalya, this is a favourite spot for foreigners looking to buy or rent property in Turkey. Last year over six million tourists from 160 countries visited this city on Turkey's southern coast. It has an ideal location overlooking the Mediterranean Sea, a modern, international airport that makes it easy to get to, and a climate with over 300 days of sun each year.
Turkey has recently introduced mortgages for non resident, and this, together with the increasing number of low cost direct flights, continuing EU entry negotiations are all adding to the upward property price pressure. As in previous EU applications, this increase in demand is set to continue. Germans are now the largest numbers of foreign visitors to Turkey, followed by Russia and then the UK. The Netherlands, France, Belgium, Austria, Iran, Bulgaria and Ukraine round out the top ten countries with tourists to Turkey, totalling 65% of all the visitors to the country. Ahmet Barut, Chairman of the Turkish Hotels Federation, noted that the "number of tourists who came to Istanbul since the beginning of 2007, increased 30 percent over the same period of last year. Many Japanese, South Korean, Asian, Far Eastern and American tourists prefer Istanbul this year."
About the Author
Buying property in Turkey needs advice and research author Nicholas Marr has done this for you and works with numerous real estate agents around the world including agents in Turkey. These relationships make his articles informative and up to date
http://turkey.homesgofast.com/
"The purchase of real property is the best capital investment"