Private Forex News

When looking to take out an overseas mortgage, you must first ask yourself whether you are investing or speculating.According to property news service Assetz, if you are looking to speculate through a foreign property mortgage, Spain is the best place for your money. Property purchase in the country is at a good price relative to the recent peaks, but rental income is limited where there is an excess of supply. There is thought to be as many as one million homes that have been built but remain unsold in Spain, with some banks offering a 100 per cent mortgage for foreign property. However, banks that are giving a mortgage and selling the property can give questionable valuations given the conflict-of-interest.Dubai's skyline can alter within months, as properties are built day and night. The recent slump saw construction activity collapse back to near zero, however, a short supply of high quality apartments has led to 24 hour construction in the Arab Emirate. This creates a market for the adventurous investor, with rising prices and rental prices coming under pressure.The US is also a market for investors that are well-versed in property. There have been a substantial number of foreclosed properties, which has led to prices dropping but rental yields remaining strong.Getting a foreign property mortgage in the rest of Europe can be an arduous task, as banks reduce the amount of mortgages available. This looks set to continue, with loan to values being significantly reduced.For more information on purchasing currency for regular or one-off payments, visit our Personal FX site