Getting a mortgage or a business loan

[georgio]

How do you guys doing with getting a business loan or a mortgage? EMIs are great for privacy, but they are not offering such options.
I would like to invest in properties worldwide, where I can move if I want for a couple of months, and rent it through Airbnb/Booking the rest of the year.
But it's hard to get a mortgage when you're changing countries, and you don't have good credit (by using EMIs).

What's your opinion/experiences on that?

 

[Martin Everson]

Depends whether you are seeking an unsecured loan or a secured loan?

I moved quite often in the past and needed loans for various reasons as my money tied up in assets. If you have collateral then offshore loan is no problem regardless of how often you move. If you have just steady income and no large collateral then options are reduced but some offshore banks do offer loans to this client base if you pay your income into them every month for a period of time.

 

[georgio]

Depends whether you are seeking an unsecured loan or a secured loan?

I moved quite often in the past and needed loans for various reasons as my money tied up in assets. If you have collateral then offshore loan is no problem regardless of how often you move. If you have just steady income and no large collateral then options are reduced but some offshore banks do offer loans to this client base if you pay your income into them every month for a period of time.

I would be considering a secured loan. I see people that are stable to one country (and) job, to be able to easily take loans at a very low rate, for even less than an annual 1% (talking about European countries, e.g. in France). When you're saying collateral, you mean hard assets, like flats, houses , etc. ?

Any good suggestion for an offshore bank for this purpose? For example for HSBC expat program, the cost of a loan for buying something in the UK, could be an average of 40% (that means 400k pounds interest on a 20-year loan of 1M pounds), and you would have an average of 15-20% if living in the UK with a good credit..

 

[Spinat]

I always looked at it the way that if you have the need to take your business offshore then it's because you have lots of money and don't need loans. @Martin Everson just made a good point why it isn't always like that.

 

[Martin Everson]

Any good suggestion for an offshore bank for this purpose?

For a simple Lombard loan any bank or broker would do. For example with internaxx broker you can take a personal 1m euro loan at 1.99%. With Credit Suisse in Switzerland I was getting rates as low as 1.5% some years back.

When you're saying collateral, you mean hard assets, like flats, houses , etc. ?

Yes also a portfolio of securities works best as collateral for faster and easier access to cash. Some banks are fussy over property and would not take for example a 3 bedroom flat in Bratislava as collateral even for a $1.