1. Who are Rossbank?
Rossbank have taken a fresh approach to lending in the UK market; established to provide overseas mortgages to UK residents to purchase residential & Investment properties in:
- France
- Spain
- Portugal
- Italy
- Germany
- South Africa
- Dubai (Coming Soon)
- Poland (Coming Soon)
2. How long have Rossbank been operating?
Rossbank have been trading in the UK from 2000.
3. How is Rossbank different to the competition?
At Rossbank we have introduced a complete tailored turnkey system for all our clients including:
- Mortgage placed on the property you are buying and not your home
- Equity release options on your property abroad
- Full end to end mortgage service
- We can arrange an independent solicitor to act for you
- We can arrange your buildings & contents insurance
- We can arrange your life assurance
- We can arrange a Notary on your behalf
- We can help arrange a bank account in the relevant country
- We can help arrange a valuation in the relevant country
- The entire process, including all documentation, will be in English which means you don’t have to worry about translations and language problems.
4. Why did we select the 8 countries we operate in?
Rossbank feels strongly about offering a complete and dedicated service in the specific countries that we have found to be the most popular for our clients. We believe in increasing our portfolio only when we have full capability in a new territory. This capability is only satisfied when we have carried out a due diligence on a particular market and when we have all the relevant systems and partners in place to enable us to offer our clients a full turnkey solution in that territory.
5. Can you provide and independent Solicitor/Lawyer
Yes. We can arrange an independent solicitor on your behalf with one of the UK’s leading law firms. A company who has won numerous industry awards and have vast experience in the overseas property market.
6. Can I speak to someone in relation to the Tax implications of owning a property overseas?
Yes. You can speak to the same solicitor about advice on your tax planning and inheritance considerations when buying a property abroad.
7. Will I have to travel out to my country of purchase during the mortgage process?
You will need to travel once to attend the bank in the relevant country. In all other cases you may appoint someone (usually your solicitor) to act on your behalf by signing a Power of Attorney.
8. What is “Power of Attorney?”
A “Power of Attorney” basically allows another specially appointed person (the Attorney) to take specific actions on your behalf.
9. What is a “Notary”
A Notary is a person authorized to perform certain legal formalities, especially to draw up or certify contracts, deeds, etc.
10. How do I arrange a notary?
Rossbank can arrange a notary in your country of purchase on your behalf.
11. Do I need to have Life Assurance?
It depends on the country you are buying in. However, it is always a sensible precaution and Rossbank can advice you on this.
12. Do I need to have Buildings insurance?
Yes. You need to have buildings insurance. Rossbank will be able to look after all your overseas insurance needs if you wish.
13. Do I need to arrange a valuation?
A valuation is required in most of the countries we deal in. Rossbank will be able to help arrange this on your behalf.
14. Do I need to arrange a survey?
A survey is not necessary in most cases but it is a sensible precaution especially if you are buying a second-hand property.
15. What sort of costs should I budget for?
There are a wide variety of costs involved in buying any property and buying overseas is no different. Obviously costs vary greatly in each of the countries we operate in but we would estimate that you should budget for at least 10%-15% of the purchase price. (This would be on top of any deposit you may need to pay)
16. Can I release equity from a property I already own overseas?
Yes. If you have a property in any of the countries we operate in we can help you release equity from that property.
17. Do you provide finance for commercial property (Retail/Office Etc)?
No. Unfortunately we do not yet provide these services for commercial property.
18. How do I open up a local bank account?
A local bank account is essential when buying in another country. You will need a bank account during and after the buying process. Apart from the property itself, you'll need to pay professional fees, taxes and charges on the purchase and utility bills and local taxes once the property is yours. Rossbank will help look after this for you.
19. Do I have to hire an interpreter?
No. Rossbank deal with all our clients in English throughout the entire process
20. Will I have to remortgage my home?
No. Rossbank will secure your overseas mortgage on the property you are buying and not on your home.
21. What do Rossbank charge for there service
Rossbank charge a set fee of €500 (or Approx £370 STG)
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