There certainly are expressions that really do tell of the truth but probably the best of all in the current statemof the economy is the expression that one man's loss is another man's gain.
Since the start of the credit crunch many households have had their incomes seriously decreased by such things as a cut in working hours, the doing away with paid overtime, and in extreme circumstances by redundancy.
It is not only the employed who have been affected over the course of the last two years. Even self employed people who ran lucrative business have been similarly affected.
Some of these individuals owned second homes abroad in such areas as Spain, Italy and France. Tragically through no fault of their own, they can no longer afford these properties and have been forced to put them on the market for sale at low prices. The even more unfortunate have had their homes repossessed by the mortgage lender, and when this is the case the price of the property for sale will be even less.
For those among you who always wanted a second home but thought it was beyond your financial means, you really should reconsider, as prices of these second homes will not have such low values for ever. Therefore it is a case of striking while the iron is hot.
You can fund the purchase by organizing a foreign mortgage, and there are companies which specialise in them, but going down this route would mean that you would need a 30% deposit.
An excellent way to buy a second home is by releasing equity tied up on your primary residence by taking out secured loans or remortgages which can both help fund the foreign home purchase. These are both homeowner loans and both are capable of doing the same things.
Secured loans , before the credit crunch, were available up to as much as 250,000. However now secured loans are restricted to a maximum of 100,000 which is still more than enough to give you a fair choice of properties.
If a secured loan does not release enough funds so that you can buy the property you want, you can go down the remortgage route which allows you the equity of 90% LTV.
Enjoy your home in the sun thanks to the secured loan or remortgage taken out on your first home.
Since the start of the credit crunch many households have had their incomes seriously decreased by such things as a cut in working hours, the doing away with paid overtime, and in extreme circumstances by redundancy.
It is not only the employed who have been affected over the course of the last two years. Even self employed people who ran lucrative business have been similarly affected.
Some of these individuals owned second homes abroad in such areas as Spain, Italy and France. Tragically through no fault of their own, they can no longer afford these properties and have been forced to put them on the market for sale at low prices. The even more unfortunate have had their homes repossessed by the mortgage lender, and when this is the case the price of the property for sale will be even less.
For those among you who always wanted a second home but thought it was beyond your financial means, you really should reconsider, as prices of these second homes will not have such low values for ever. Therefore it is a case of striking while the iron is hot.
You can fund the purchase by organizing a foreign mortgage, and there are companies which specialise in them, but going down this route would mean that you would need a 30% deposit.
An excellent way to buy a second home is by releasing equity tied up on your primary residence by taking out secured loans or remortgages which can both help fund the foreign home purchase. These are both homeowner loans and both are capable of doing the same things.
Secured loans , before the credit crunch, were available up to as much as 250,000. However now secured loans are restricted to a maximum of 100,000 which is still more than enough to give you a fair choice of properties.
If a secured loan does not release enough funds so that you can buy the property you want, you can go down the remortgage route which allows you the equity of 90% LTV.
Enjoy your home in the sun thanks to the secured loan or remortgage taken out on your first home.
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