No lender is going to take a mortgage on an overseas property because they don’t have the infrastructure (nor the willingness) to try to repossess the property in case of default and even the largest international banks won’t do it.
You might hear that somebody in the US got a loan in the US to buy a property overseas but that could be because they gave a US property as collateral or any other collateral or it’s a company that has a strong balance sheet and took an unsecured loan but that would likely defeat the propose of the original poster.
If you know of any lender who takes an overseas mortgage as sole security for the loan, let me know as I’d be very interested but I’ve worked in the banking industry across the work for many years so I know that, if ever there was any, it’d be more the exception rather than the rule. Thanks
I agree with you - I think you may have misread my post I said there are US banks that specialize in working with foreign buyers but for US buyers going to foreign lands they would need to look at local banks and it usually is a no.
You are 100% correct. Because the topic was about Americans buying overseas, I thought that’s what you meant when you mentioned foreign buyers.
