How to Finance a Property Purchase in London from Ghana
London remains a prime destination for international property buyers, including investors and homebuyers from Ghana. Whether you're looking for a buy-to-let investment or a home, financing your London property purchase from Ghana requires careful planning.
At Fraser Bond, we specialize in helping international buyers navigate the UK property market. This guide outlines how to secure financing, obtain a mortgage, and handle payments from Ghana.
1. Can You Get a Mortgage in London from Ghana?
Yes, Ghanaian buyers can secure a UK mortgage, but lenders have stricter criteria for international applicants. Options include:
- International Mortgages – UK banks and lenders offer mortgage products specifically for overseas buyers.
- Foreign National Mortgages – Some UK banks allow non-UK residents to apply, but you may need a higher deposit.
- Local Banks with UK Partnerships – Some Ghanaian banks have relationships with UK banks, making mortgage approval easier.
2. Mortgage Requirements for Ghanaian Buyers
To apply for a mortgage in the UK, lenders typically require:
- A minimum 25% deposit (sometimes more for non-UK residents).
- Proof of income (bank statements, tax returns, employment records).
- A good credit history (UK or international).
- Legal identification and proof of address in Ghana.
- A UK bank account (to process mortgage payments).
At Fraser Bond, we work with specialist lenders who assist overseas buyers with securing competitive mortgage rates.
3. Cash Purchase vs. Mortgage – Which is Better?
If you have the funds, a cash purchase can simplify the process, allowing for quicker transactions and stronger negotiating power. However, a mortgage allows you to invest in property while keeping capital free for other opportunities.
4. Currency Exchange & International Transfers
Sending money from Ghana to the UK for a property purchase requires a reliable currency exchange service. Consider:
- Foreign Exchange Brokers – Offer better exchange rates than banks.
- UK Bank Accounts – Opening a UK bank account can help with smoother transactions.
- Capital Transfer Regulations – Check Ghana’s foreign exchange rules for large international transfers.
5. Legal & Tax Considerations
- Stamp Duty – Non-UK residents must pay an additional 2% stamp duty surcharge on property purchases.
- Tax on Rental Income – If buying to let, you may need to register for UK tax on rental earnings.
- Legal Representation – Hire a UK solicitor with experience in handling transactions for overseas buyers.
6. Finding the Right Property in London
At Fraser Bond, we assist Ghanaian buyers in finding high-yield investment properties or residential homes in prime London areas. Our services include:
- Property sourcing – Identifying the best investment opportunities.
- Legal & mortgage support – Connecting you with trusted financial advisors.
- Transaction management – Ensuring a smooth buying process from start to finish.
Conclusion
Financing a London property purchase from Ghana requires careful planning, the right mortgage, and expert legal guidance. Whether you're an investor or buying a home, Fraser Bond can help you navigate the process seamlessly.
Contact Fraser Bond today for expert advice on buying property in London from Ghana.
