Eupil are very pleased to bring you these top tips for buying an overseas property. In addition to this EUPIL are also proud to offer overseas mortgages here.

You can only raise a mortgage on completed projects. The Raikov Ski Lodge is such a project. Never sign a contract that you do not understand (for example - if it is in a foreign language). Try to arrange your mortgage finance “in principle”, before agreeing to purchase the property, or before signing any contracts and paying over a deposit.

Arrange your mortgage in the currency where you earn income wherever possible, unless you are going to receive rental income from that property in the local currency, then this may be a possible alternative option, dependent on the lender's criteria. Open a bank account in your chosen country and ensure you get a Certificate of Importation for the money you bring in from your home country. Always ensure that you seek specialist advice from independent Solicitors, Architects and Surveyors before considering a purchase overseas. They should be proficient in your chosen country's laws and processes and also know the specific laws involved in buying a property there. Always give yourself a “cooling off` period if you see a `must-have property` and are tempted to put down a deposit there and then. If you are arranging finance on the property, ensure that this is stated in any contract and you have an “opt-out clause” if the loan is not agreed (this should ensure any deposit paid is refunded).

Set up standing orders in a local bank account to meet bills and taxes. Failure to pay your taxes in some countries, such as France, Portugal and Spain, could lead to court action and possible seizure of your property. Remember that bills do not end at the asking price. Lawyer's fees, Taxes, Insurance must all be met in your host country and can often be more expensive. Think about combining your cash with friends or family: it could bring a Villa with pool within your financial reach, rather than simply an Apartment. Check with the Estate Agent or vendor that you are aware of the costs charged by the legal and government authorities for purchasing a property in your chosen country.