Investing abroad, whether in property or development can be a minefield if you do not take the correct precautions. The growing world economy offers exciting opportunities, particularly within the booming development market. The weak Great British Pound (GBP) and strong US dollar (USD) are ensuring 2017 is proving to be a very exciting year for foreign investment.There are numerous factors to consider with property development investment abroad and finding the right mortgage to do so. We have narrowed them down to the 5 essential tips we believe will help safeguard your investments abroad.
If you are buying property in a currency other than that of the country you are buying in, you will need to borrow in foreign currency. Finding the best conversion rates is tough, and acquiring less attractive rates can impact the success of your investment, so being FX savvy is key before investing.
Keeping abreast of the FX market’s fluctuations is tough, and tougher on your own. Therefore to make the procedure less complicated, Enness have an exclusive partnership with Argentex, an FX specialist who offers a tailored service to suit your needs.
Backed by their parent company Pacific Investments, Argentex are able to capitalise on this liquidity source and offer very attractive rates. Using this partnership, we are able to provide a special, bespoke service to our clients.
- Know the local law
Not knowing local laws, particularly with regards to property and development can be risky. Making a decision without quality prior legal advice can directly lead to complications and lengthy legal bills for which you have not budgeted.
Over 10 years, Enness has built up an unusually wide network of professional legal partners both at home and abroad who specialise in providing clients with the best solutions to their unique problems. Helping you avoid lengthy legal cases in the future.
- The right broker
Too often at Enness, new clients get in touch after dealings with other brokers, unwilling to put in the extra hours to achieve the right solution for you.
At Enness, we match your unique criteria to one of our expert brokers who has direct experience in your chosen area. Moreover, our brokers approach cases in a transparent way, keeping you up to date with your case at every step of the way.
With foreign investments, having the correct broker is a critical part of achieving success within your unique investment.
- Local knowledge
Navigating a foreign property market is difficult. Going it alone you risk being taken advantage of by local developers, more adept at navigating the ins and outs of the local market.
Our brokers’ specialist knowledge and local industry partners mean they are in a position to give you the best advice on everything from independent valuations to local restaurants, building on special relationships which have been built and nurtured.
As with any investment, having a good exit strategy in place is crucial. Lenders may treat overseas investment with more apprehension than they would a domestic one, so knowing your exit is key for getting the ball rolling on your overseas property and development investment.
The Brokers at Enness, working in tandem with their extensive network of lenders and partners, have the ability to facilitate whichever exit strategy you chose, giving you industry leading advice which suits your unique property or development investment requirements.
If you are thinking of investing in property abroad, one of our brokers will be delighted to speak with you so please do not hesitate to get in touch.