Using a Foreign Property as Collateral

Posted on 9 February 2011 by Adrian


I own a property abroad (within EU) but am now a UK resident and own a property here. I would like to know if I can use my foreign property as collateral against my UK property when renegotiating my mortgage.

Adrian,

This will depend on where the property is and how much you want to borrow. If a Lender has operations in both countries it may be possible to arrange a bespoke deal with a Private Bank.  If on the other hand you are looking you are looking at the UK High Street Lenders then I don't think it will make any difference.

I believe you would benefit from speaking to one of our independent mortgage advisers. Please call on 0344 346 3672 and tell the adviser the date of your question, they will be able to look at your situation and take it from there.

Peter

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