Investors urged to seek expert advice
Property investors who are entering an emerging market have been advised to get professional advice.
International Mortgage Solutions said it would be prudent for buyers to solicit opinions from expert brokers before committing to a purchase overseas.
Heather Chambers, director of the organisation, said that many people do not take advice and assume the mortgage market in another country will be similar to that in the UK.
She commented: "Sometimes people buy without even understanding whether there is a mortgage, or whether they fit the criteria."
However, Ms Chambers said it could possibly be difficult for brokers to anticipate market conditions if their clients are buying an off-plan property.
This, she added, means that the buying criteria required to get a mortgage will not necessarily stay the same.
According to the Association of International Property Professionals, Bulgaria and Morocco are currently two of the most popular emerging markets among British investors.
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