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Independent Mortgage Advice with DSR

DSR's industry leading client care and customer service lasting long after the purchase is complete has always made them one of (if not) the best companies to buy a property overseas with, but a new service launched as part of a growing range has made them even better.

Now, potential investors who make an enquiry into an overseas investment property with DSR, will be able to consult in-house mortgage professional Neville Varlow to assist them in financing their overseas property purchase.

In just one short phone-call involving five short questions (on top of the basics: full name, address and D.O.B), Neville, an experienced financial advisor will have all the information he needs to do the number crunching necessary to advise the client on their options for financing their overseas property purchase. Neville told me what questions he needs answered to be getting on with:

Who the client ' s current mortgage is with, (if they have one)?

• When was the mortgage arranged?
• How much does the client earn?
• And what is the client ' s credit status?

When he has the answers to those questions, and not being attached to any financial products provider (hence the "independent" in his title), Neville is able to search the entire market, and come up with the best options for each individual client based on their circumstances.

Neville said that "the most common option for people looking to raise substantial amounts of money is re-mortgaging their home." In the process of looking at these options for clients Neville also hopes to find the client "a better mortgage deal".

There are two main ways to use your existing mortgage to raise finance for a second home:

1: Take out another mortgage for the same amount, your new mortgage pays of the rest of your original mortgage, and you get back what you have paid less interest. Obviously this option is only suitable if you have paid quite a bit more off your mortgage than the amount you are trying to raise.

2: Take out another mortgage for the amount you need to raise more than you owe on your original mortgage, obviously you pay off your original mortgage and use the extra to fund your property overseas. This option is better for people with fairly new mortgages, or who have paid off less that the amount they are trying to raise.

Whatever options are presented as suitable for you in your circumstances, and whatever option you choose, you can feel safe in the knowledge that -- from seeking advice on arranging your finance, to getting the keys to your property overseas - you are being looked after by someone who has your best interests at heart.

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