Posted on 5 February 2012 by Prateek
I am an Indian national resident in the UK for more than 5 years. I own an under construction flat in India. Will I be able to apply for home loan here in the UK for this property ?
In the usual course of events mortgages raised in the UK are used for the purchase of either freehold or leasehold property in Great Britain and not abroad. However, that does not mean you can not arrange to borrow money here for a property abroad.
There are several alternative options for you to consider including, raising money on a property you already own in the UK or approaching the UK branch of a Bank that has offices in India, such as State Bank of India, ICICI Bank, Bank of Boroda or Bank of India.
I believe we can help you and that you would benefit from speaking to one of our independent mortgage advisers. Please call 0344 346 3672 and tell the consultant the date and title of your question, they will then be able to help you find the right solution for your situation.
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We recommend you seek professional advice with regard to any of these topics where appropriate.