This petition will be presented to the Government at an opportune moment to try and get some action for FTBs.
Please sign up and be counted!
It is absolutely imperative that you do your homework before buying a property abroad. Laws vary enormously between countries. In some countries there may be title disputes on land and in others a new owner can unwittingly take on debts attached to a property.
It might also be the case that you need to seek permission from the government of the country before buying a property. Taxes, home-buying and legal fees also vary.
If you need an overseas mortgage, different levels of deposit are required in different countries and some won't lend at all to overseas investors. Especially where you do not speak the language, it is absolutely imperative to seek professional and independent advice.
Remember also to factor the cost of this into your budget. More information on buying property abroad:
Why buy a property abroad? l Points to Consider when buying a property abroad l How to finance your property abroad – various options and likely costs l Building a property abroad l General tips for buying a property abroad l Buying a property abroad with friends l Choosing your new property l Could buying a property abroad secure your future l Insuring your property abroad l Buying property abroad as an investment l Living permanently in your property abroad l Maintaining your property l Property abroad - don't stop at Europe l Property abroad - FAQs l Renting your property abroad l Tax and your property abroad l The responsibilities of owning a property abroad l The true costs of an overseas property l Viewing your property abroad l Legal considerations when buying a property abroad
Interest rates are low but could rise? Is this a good time to buy?
Yes No
Varialbe rate mortgages go up if bank interest rates do. Which is your preference?
Fixed Rate Variable rate
Interest only mortgages are cheaper but in the end you don't end up owning the property. Which is better?
Interest Only Repayment
House prices are waivering. Do you think this is a good time to buy?
Shared equity mortgages allow you to buy a new home with 5% deposit and an equity loan through FirstBuy. What do you think?
Too complicated Too expensive Too risky
Rent to buy allows you to peg a property price, save towards a deposit and pay reduced rent. What do you think?
Works best in a rising market Too complicated Good option