Is there something better than a Lombard Loan for a Mortgage I can't get anyways?

[diosmios]

Hello everyone,

I've been considering acquiring real estate property in a variety of countries recently.

Each time, I'm faced with the same challenge, I'd need to be a resident, and more: an employee, with a significant salary, to access mortgage through banks.

This does not work for me because I do not want to earn income through salary (and thus having to pay taxes on that). Additionally, I'd need to be employed for a long duration before being eligible.

In other cases, the property is a leasehold, so as a Foreigner I don't get access to mortgage at all.

So far, the best solution I found is to get a Lombard Loan (which I can get). I put the money in the bank, they lend me 50-70% LTV. Lombard comes at small % cost of course.

I'd love to hear some opinions on alternative solutions, or on why this model can be great/bad. I'm aware of the call risk.

I'll add that there is no specific scenario for the property acquisition, although in most cases it's been a property I'd like to live in.

Thank you for your ideas and perspectives!

 

[CyprusLaw]

Hello everyone,

I've been considering acquiring real estate property in a variety of countries recently.

Each time, I'm faced with the same challenge, I'd need to be a resident, and more: an employee, with a significant salary, to access mortgage through banks.

This does not work for me because I do not want to earn income through salary (and thus having to pay taxes on that). Additionally, I'd need to be employed for a long duration before being eligible.

In other cases, the property is a leasehold, so as a Foreigner I don't get access to mortgage at all.

So far, the best solution I found is to get a Lombard Loan (which I can get). I put the money in the bank, they lend me 50-70% LTV. Lombard comes at small % cost of course.

I'd love to hear some opinions on alternative solutions, or on why this model can be great/bad. I'm aware of the call risk.

I'll add that there is no specific scenario for the property acquisition, although in most cases it's been a property I'd like to live in.

Thank you for your ideas and perspectives!

Hi, have you considered Cyprus? It could also enable you to get the permanent residence by investment.

 

[CaptK]

What is your budget?
What countries would you prefer?
In the UK non resident mortgages are very common up to 70% LTV
UAE, Portugal, Spain, and Cyprus up to 80% LTV

 

[369]

i would use precious metal as collateral so you won't lose on inflation.
Also it would be good to take that loan in a currency which will be weak in the recession.