Investors urged to carry out research

Overseas property investors have been advised to carry out advance research if they intend to get a mortgage overseas.

According to Richard Way of A Place in the Sun magazine, using an overseas lender could be a good way of overcoming current lending issues in the UK.

However, he has urged people who take this route to make sure they are familiar with the legal system of their chosen market, as well as other issues related to the property-buying process.

In addition, he reminded buyers from the UK that they could face potential problems if they come up against a language barrier.

Therefore, Mr Way believes that those who get the right information in advance of obtaining a mortgage overseas are likely to benefit significantly.

He commented: "If researched carefully and if the procedures are followed it can reap rewards."

According to research by A Place in the Sun magazine, France and Spain are currently the two most popular markets with British property buyers.