Mortgages in Mexico ?

[CaroleBay]

Hi There

I have an existing mortgage client who now wants to buy a property in Mexico.

Is there someone out there who knows any mortgage brokers dealing with banks in Mexico?

Please e-mail me.

Thanks
Carole Bayliss
mortgagefrance.com

[Kirazli]

I don't know any UK companies that offer mortgages in Mexico, but there are a few USA companies that offer them. I believe you have to be certificated by the Mexican government to offer residential mortgages to foreign nationals.

The immediate problem I see is that because coastal and border land can only be owned under a bank trust the issueing of a mortgage on this would be a specialist thing.

If memory serves, and it is a couple of years since I was there, the US banks that do lend in Mexico require title insurance as well.

You may want to look at a company called Mexlend (can't recommend them, I only know they exist and havent dealt with them) and also search for US banks with Mexican lending facilities.

K

[CaroleBay]

Hi Kirazli

Thank you for that information - I'll pass it on.

I was suprised to learn that there are some US banks that will lend in Mexico, I thought it would only be Mexican banks.

Kind Regards
Carole Bayliss
mortgagefrance.com

[Kirazli]

The USA has always been the big market for holiday property in Mexico so they got mortgage deals for foreign buyers set up first. I don't know if they can work with people from countries outside the USA but its a starting point for you.

Regards

Kirazli

[coolhandluke121360]

Yes I deal with the major banks here in Mexico and I know all the ways of getting things down here LEGALLY!!!!!!! because there are many ways but everyone of them is a risk unless done RIGHT!!!!!