Dreaming of owning a holiday home abroad?

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Are you dreaming of a holiday home in France, Portugal or Spain? We can offer you a loan secured in the property you plan to buy. For Norwegian and Swedish customers we can offer a mortgage - only solution. For other European`s it is required to also invest in assets under management with our bank.

We can open the doors to your holiday home

It is increasingly popular to buy a holiday home abroad, but for most people, this is an unfamiliar process. It is a good idea to think carefully about why you want to buy property abroad. Is it an investment, is it for personal use or to ensure a comfortable retirement? It is important to be clear about this so that you can find a property that suits your needs.

Our advisers have long experience and in-depth knowledge of the entire process, and can give you useful advice and tips on buying and financing a holiday home abroad. Please feel free to contact us for an informal conversation.

Useful tips for buying property abroad

  • It may be a good idea to rent a property in the area before you decide to buy, to find out whether you like it there. If you intend to rent out the property, it is wise to check out the local rental market
  • Check the local regulation plans to ensure that you do not end up with a high-rise building right in front of you or a motorway through your garden. The bank or a local lawyer can help with this
  • Also check whether anyone has an encumbrance on or a legal title to the property and that all joint expenses in co-ownerships and municipal fees have been paid. Check that the seller is the actual and real owner of the property.
  • Check the financial position of the common property and how many units remain vacant or unsold. If there are many unsold units, joint expenses related to swimming pools, security guards, renovation, insurance etc. could quickly become high.
  • It is a good idea to borrow in the same currency as the property will be purchased in to ensure the lowest possible currency risk on the investment. Currency fluctuations between the euro and the Norwegian krone could have large consequences if you later decide to sell the property.
  • Remember taxes, inheritance and currency. Buying a property in another country also implies a partial tax liability and tax deductions in another country. Think through the consequences and familiarise yourself with the regulations.
  • Use professionals, "as is" means "as is" in Spain and France. It is often too late to complain once the property has been transferred to you as the new owner. Hire a professional to assess the property and price before you buy.
  • Do not sign a contract you do not understand. Far too many people "think Norwegian" and have blind faith in real estate brokers. Ask questions and request documentation of the answers. Also remember that companies may go into liquidation before the property is finished, and that a bank guarantee is an absolute requirement if you buy a home in a newbuilding project.

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