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CorecoOverview

What is an Offshore Mortgage?


An offshore mortgage is a mortgage designed for clients purchasing or remortgaging properties in the UK via an offshore entity. These are usually held offshore in tax-efficient locations such as the Channel Islands, Cayman Islands, and the British Virgin Islands to name a few. Complex trust structures can also be catered for. 

As offshore mortgages and offshore tax planning generally can be very complex, independent tax advice is essential before you decide to proceed. Coreco mortgage advisers are experienced offshore mortgage brokers but we are not tax advisers ourselves. If you would like to speak to an expert, we can refer you to highly experienced tax experts if required. Get in touch for more information 

 Ready to speak to us about your offshore mortgage? Contact our friendly team of advisers on 020 7220 5100, or fill out our online contact form and we’ll be in touch shortly.  

CorecoFaqs

FAQs

  • What are the benefits of an offshore mortgage?

    Typically, offshore mortgages are most suitable for those whose income is generated from outside of the UK, or are not a resident of the UK for tax purposes.

    Offshore mortgages are also available for overseas clients purchasing residential property, which is to be used by themselves or their family as their base when travelling to the UK. Alternative options are also available for clients who’d like to purchase an investment property to let out.

  • What are the benefits of an offshore mortgage?

    Off-shore mortgages can be very tax-effective for a certain category of borrower seeking to own property in the UK. However, due to recent changes in the law you should always ensure that you take personal tax advice.  

  • What are Offshore mortgage rates?

    Offshore mortgage rates vary significantly because the product is so niche. It’s not a product your high street bank would necessarily have to offer so if you’re considering an offshore mortgage, it’s important to seek expert advice from an experienced offshore mortgage broker such as ourselves.

  • How do I get an offshore mortgage?

    Depending on your personal circumstance, and the way in which you wish to structure your offshore mortgage, be it through a limited company or offshore trust, in sterling or in another currency, Coreco Commercial mortgage advisers are able to assist. 

     We have developed close contacts with several of the main private banks who take a “blank sheet of paper” approach to underwriting offshore mortgages. Every client is treated separately depending on their situation and thus, has a product designed specifically to their individual needs. This can result in more competitively priced products that are better than those available on the wider market. 

    Through “Back-to-Back” loans, it is possible to effectively borrow 100% of the mortgage amount so that money does not have to be brought into the UK. This can be achieved by depositing cash, shares or other assets with offshore banks.

    Offshore company loans can be arranged through various international jurisdictions, be it the Channel Islands, BVI or any other location that is required. Complex trust structures can also be catered for.

CorecoImportant Information

The important bit


Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured upon it.

There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.

A percentage of the mortgage amount may be charged depending on individual circumstances. A typical fee is 1%.

Coreco Commercial is a trading style of Coreco Specialist Finance. Coreco Specialist Finance. Registered Office: 117-119 Houndsditch, London EC3A 7BT. Registered in England Number: 06851546

Coreco Specialist Finance Limited is authorised and regulated by the Financial Conduct Authority.

Some types of finance offered by Coreco Commercial are not regulated. Please contact us for more details.

Coreco Commercial advisers are experienced mortgage advisers but we are not tax advisers. Please seek independent tax advice if required before you decide to proceed.

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We know that all our clients are unique, and therefore the finance you require needs a different approach. We pride ourselves on providing a client focussed journey built around your needs and goals.

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