General Guidelines for buying Property Abroad

Before you buy, visit the area you are interested in. Spend time there and make sure it's the right place for you. For instance, are there enough facilities for everyday living? Or do the pubs and clubs out-number the shops? Is it over-run with tourists in the summer and dreary in the winter? There is so much you need to know.

You can always learn from others’ experience by consulting those who have done it before. There is no shortage of ex-patriates with their own stories to tell. The Mediterranean coast, in particular, has plenty of ex-pat clubs and societies that you can scour for information.

When looking for local estate agents, shop around until you find one or more that you feel at ease with. Then make sure they are a member of a professional trade body. Use only well-established, recommended companies and beware of anyone who gives you the hard sell.

Property abroad is often cheaper than in Britain but more expensive in terms of local taxes, legal costs and especially agents fees. And the deal can take longer to close than in the UK, perhaps leading to unexpected initial expenses. You’ll probably need more money than you thought.

Fortunately, nowadays more UK lenders are offering mortgages for properties abroad, particularly in Europe. Mortgages are usually available for around 80% of the purchase price and can be in the currency of your choice. Time the purchase right and you can take advantage of currency fluctuations to get more for your money. Time it wrong, and you could lose out.

As well as doing your own homework, make sure you have a good lawyer with an excellent command of English as well as the local language. He or she will be dealing with a stream of rules and regulations on your behalf and must make you aware of unsuspected pitfalls and handle them reliably.

Open an account in a local bank to pay your bills. Be careful not to miss payments - foreign banks are not lenient with those who don't pay up on time.

If you're considering renting out the property when it's empty, bear in mind that advertising your property abroad in the UK could result in tax demands from both the British and foreign authorities.

If you still want to buy abroad, avail yourself of the wealth of related publications and web sites on the subject - and take professional advice.