'Transfer money in instalments' when buying Brazilian property
Date added: 8th November, 2010 at 09:02
(view all articles from November, 2010)
Categories: Property News
People buying Brazilian property may need to consider the effects of a changing exchange rate.
This is according to operations director of overseas mortgage specialist Conti Clare Nessling who spoke to the Daily Express, warning exchange rates can alter by as much as five per cent in one week.
"Don't leave it to the last minute to send money," she advised. "Splitting your transfer into several lump sums will reduce the risk."
If investors are taking an income denominated in sterling, an overseas mortgage may not be the best option, as a change in exchange rates could see repayments rise, the expert stated.
However, there are positive sides to taking out a home loan from a local provider, as the lender may check planning permission and the legal title of the property, she said.
Those seeking Brazilian property to invest in may consider real estate in Rio de Janeiro, as independent real estate broker Fabricio Negri recently told Property Wire the assets are rising in value due to the 2016 Olympics and regeneration programmes underway in the city.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of Brazilian property. 
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