Mortgages are generally easily available in most countries.The process of making a mortgage application is very similar to that in the uk. Applicants have to prove affordability, that is to say that they can afford the mortgages.This is done by suppling your financial documents.This includes a p60, 2 months wage slips per client and upto 6 months bank statements per client;if the client is employed.If the client is selfemployed 2 months audited accounts are required and upto 6 months bank statements.

Whether you are looking for a mortgage for a new home or to remortgage an existing property, we work with highly experienced financial partners that can access competitive and often exclusive rates, usually on more favourable terms than you can achieve by approaching lenders direct. Our overseas mortgage teams are also dedicated to offering advice to clients looking to purchase abroad. We also work with local lenders to provide the most competitive mortgage rates, and can advise on the best options to suit your circumstances and needs. We do not charge a fee for this service as it is part of our aftersales service.


Once you have selected an agent and a lawyer, the next important step is to ensure that you find a reliable foreign currency exchange broker that will assist you in buying your Euros. You should make sure that you find a service that is simple to use and but effective enough to ultimately save you money when purchasing a property abroad. Many banks and independent brokers in abroad marketplace provide this foreign currency exchange service and money abroad transfers. Over the past few years, LifeStyle Homes Overseas have worked with Moneycorp who are one of the most establish foreign currency exchange brokers in the world to offer our customers total peace of mind with regard to removing the concerns of currency fluctuations.

Your Moneycorp Toolbox

Can your power to buy be affected by currency fluctuations?

So let's take a typical example of someone finding a resale property abroad.

• You have located your perfect Spanish property.
• It is available right away for immediate sale.
• You are able to purchase it outright.
• The selling price is 200,000 Euros.

Your own bank offers you an exchange rate of 1.48 Euros to £1, which equals £135,135. It takes 4 weeks to complete the paperwork. You then instruct your bank to proceed to purchase the 200,000 Euros. But, due to currency fluctuation, the bank requires £140,505 instead of the original total of £135,135. This is an additional £5370, something that you might not have bargained for or even budgeted for.

During the month that the bank offered its exchange rate of 1.48 Euros to the £1 the Euro has strengthened due to normal currency fluctuations. Now £1 buys a mere 1.42 Euros (It could have been much worse and could have happened quicker). When compared to the pound it does not seem to much, but when buying a property of a few hundred thousand pounds it makes a lot of difference. You were aware that the foreign currency exchange market fluctuates from time to time. But never did you anticipate such an adverse change in such a short space of time. Even if you were aware of the risk, you were unaware you could actually protect yourself against it. No-one at the bank mentioned the subject. No-one mentioned 'stops' and 'limits', the automated processes that large business uses as a matter of course to safeguard their money when undertaking foreign currency exchanges. Nor were you aware that you could have found a more advantageous rate than 1.48 to the £1 in the first place.

Can you obtain the optimum foreign currency exchange rates?

The exchange rate that your bank in the UK or Spain might offer to you is certainly not the one and only currency exchange rate available. And it certainly will not be the best, simply because the major banks make their money from dealing in corporate millions, not by dealing in the kind of amounts that buy a nice property abroad. Shopping around does pay dividends.