International mortgage/loan for Brazil property (high end apartment)?
Any suggestions gratefully received.
I own an apartment in Sao Paulo, Brazil that I am looking to refinance, with a higher loan value (increase the value of loan). The current value is USD 1,000,000 and I have a mortgage with a Brazilian bank. The mortgage is equivalent of USD 500,000 giving a loan to value of 50%. Refinancing is very difficult in Brazil – the main banks DO NOT offer this product. I am therefore looking to find an international lender/private lender who is willing to provide this type of financing.
I am an expat partner with one of the big-4 professional services firms, based in Brazil, with a very good income and credit history. Property financing in Brazil is very different to what I have experienced..
Considering that I may need to consider alternative options (for example, international lender) I will also take appropriate legal advice.