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New Service Will Allow Investors to Free Equity from Foreign Property 
Charlie Weston
Personal Finance Editor
Irish Independent Business Section Tuesday 16th September 2008
Investors in foreign properties who are feeling the squeeze from the credit crisis are expected to show interest in a new service that will allow them to release equity in the overseas property, without using their Irish home as security.
Dublin-based mortgage broker ACAP, which is regulated by the Financial Regulator, said yesterday it had linked up with 350 international banks.
It said it can arrange for Irish owners of overseas properties to release up to 80pc of the equity in their properties in Spain, Portugal, France, Germany, the UK, the Caribbean, Dubai, Cape Verde and Italy. It said it was the first and only mortgage intermediary to offer the option on foreign properties to Irish customers.
ACAP Group was set up by Paul McGlade, whose father sold his 50pc share in Champion Sport for €35m two years ago, and Patrick Daly whose background is in hotels and property investment.
Also a director of the brokerage is Vie Mallon, whose family are involved in beef exporting and who has a background in finance.
Paul McGlade senior is chairman of the company, but it is run by Paul McGlade Jnr, Mr Daly and Ms Mallon.
The new service was likely to prove highly attractive to investors in foreign properties with large debts, Mr McGlade Jnr said. These investors would now have the opportunity to refinance without putting their home up as security, he added.
He explained that if a client wants to release equity, the percentage of funding available is defined by the location of the property, varying from 60pc to 80pc depending on the country.
The equity release is then measured on the property’s current market value minus the remaining mortgage against the property.
This means that 60pc to 80pc of that value is then available as cash.
“This is a very cost effective way to access capital – of particular interest to people who simply need cash, or those who want to benefit from the lower interest rates in foreign countries to offset more expensive borrowings in Ireland,” Mr McGlade added.
Up to 60pc of the property can be released in Spain, 80pc in Portugal and the same in France, 70pc in the US and 60pc in Germany.
The interest rate in Spain is 1.4pc above the Euribor rate, which is currently 4.86pc. In France it is 4.86pc fixed for a year, then 1.25pc above Euribor
ACAP Group First to Market with Foreign Equity Release Product - OverseasCafe.com September 2008
Foreign property owners can now access up to 80% of the equity in their foreign properties. ACAP Group, Ireland’s leading full-service overseas mortgage specialist, is the first and only international mortgage intermediary to offer this product to Irish customers.
ACAP Group is an Associated Partner of 350 international banks, and is again the only Irish foreign mortgage intermediary with this facility. These partnerships allow ACAP Group to provide mortgages for foreign properties with established and reputable banks in the country of purchase. There is thus no need to borrow against the client’s home in Ireland.
ACAP has partnerships with banks in the USA, Spain, Portugal, France, Germany, the UK, the Caribbean, Dubai , Cape Verde, Italy and in Ireland. There are multiple partnerships with various banks in each country, each offering very competitive rates, particularly within the Euro zone. The variety of partnerships means that ACAP Group customers are guaranteed independent advice in their choice of bank and product.
If a client wants to release equity, the percentage of funding available is defined by the location of the property, varying from 60-80% depending on the country. The equity release is then measured on the property’s current market value minus the remaining mortgage against the property. 60-80% of that value is then available as cash.
This is a very cost effective way to access capital - of particular interest to people who simply need cash, or those who want to benefit from the lower interest rates in foreign countries to offset more expensive borrowings in Ireland.
ACAP Group is the first mortgage intermediary to focus on bringing a full-service operation together which includes partnerships with established and reputable foreign property experts including tax advisers, insurers, legal advisors, legal translators and foreign exchange facilities. ACAP Group’s experience in the international mortgage market, their partnerships and their personal relationships with the various banks they have partnerships with, all remove the stress and uncertainty from the process for the client.
“Changing economic times mean that the need or desire to release cash from foreign properties is much stronger than before”, said Paul McGlade Jnr, Director of ACAP Group. “Demand for this product is particularly high and uptake so far indicates it will be our most popular product for 2008 and 2009”.
“Previously, foreign mortgage availability was so limited that many people buying overseas properties used equity from their own homes in Ireland to secure it. With changing economic conditions and rising interest rates, foreign property owners may prefer to pay off their Irish mortgage now, while still keeping their property abroad. Equity release is a quick and easy way to do this,” he added.
“ACAP Group offer a product and service which is absolutely unique in Ireland. We have been first to market with our products and our partnerships, both with banks and support services. The time and money we invested in securing partnerships with 450 different banks across various markets means that clients can be confident of our independence, transparency and trustworthiness in handling their foreign mortgage”, Mr McGlade concluded.
Brokers fuel overseas projects - Independent July 2008
At a time when the credit crunch is making it tough for Irish investors to secure funding for overseas properties, an Irish company has established a mortgage broking service for both commercial and residential investors.
ACAP has been established by Paul McGlade, who sold the Champion Sports chain of stores for €70m in 2006, and his fellow directors are his son Paul Jnr, together with Patrick Daly and Vie Mallon.
ACAP offers mortgages in over nine international locations: Spain, Portugal, France, Germany, Turkey, Italy, the US, Caribbean and the Dominican Republic. It has already arranged a mortgage for an Irish investor buying a commercial property in the US.
Paul McGlade Jnr said that there are some countries where the company fears that the market may be suffering from over-supply so it will not arrange mortgages.
While the mortgages are arranged in the local currencies, there are some countries, such as Eastern Europe, where higher interest rates make local mortgages less attractive for investors.
Their sales director explains that the mortgage is securitised against the foreign property, thus ensuring that the client’s primary residence is not at risk. “Clients can also relax in the knowledge that the property they are buying abroad will be authentically evaluated for borrowing purposes, which means that the chances of buying an overpriced holiday home in the sun are vastly reduced.
“We are committed to making borrowing for an overseas property as painless as possible. We take away the headache when purchasing property abroad – it eliminates the language barrier, ensures that the buyer can avail of the best possible rates and saves time. The fact that our offices are located in Dublin makes it easier for the borrower.”
The company works closely with leading lenders in various countries.
ACAP charge clients a fixed application fee of €450 and, up-loan on loan approval, an arrangement fee of 1pc of the loan.
New mortgages for homes abroad – Property Post April 2008
Irish buyers of overseas property can now avail of international properties with the launch of ACAP, the international mortgage and finance company for residential and commercial properties.
Launched earlier this month, the company offers up to 90pc loan value (LTV) abroad covering residential lifestyle properties as well as commercial.
ACAP offers mortgages in over 10 prime locations worldwide. Working with the leading banks and financial institutions in each region, ACAP provides a cost effective mortgage and other financial products to suit a variety of investors.
According to sales director Paul McGlade, the company wants to make borrowing for an overseas property “as painless as possible”. The fact that our offices are located in Dublin makes it easier for the borrower.” He adds.
ACAP is regulated by IFRSA and can be contacted at 7 Molesworth Street, Dublin 2, (01 679 9599) or log onto www.acapgroup.com.
ACAP fits for buying abroad - Daily Mirror Thursday March 27th 2008
Irish investors of properties in the sun can now raise up to 90 per cent loan to value mortgages abroad.
Buyers of overseas property can now avail of international mortgages with the launch of ACAP the international mortgage and finance company for residential and commercial properties.
One of the first specialist overseas mortgage finance providers was launched in Ireland on March 5 and offers up to 90 per cent loan to value abroad covering residential lifestyle properties as well as commercial.
ACAP offer mortgages in over 10 prime locations worldwide.
Working with the leading banks and financial institutions in each region, ACAP provides the most cost effective mortgages and financial products to suit every type of investor, according to ACAP.
The Sales Director for ACAO said: “We are committed to making borrowing for an overseas property as painless as possible. We take away the headache when purchasing property abroad – it eliminates the language barrier; ensures that your primary residence is not at risk; the mortgage is securitized against the foreign property; ensures that the buyer can avail of the best possible rates and saves time. The fact that our offices are located in Dublin makes it easier for the borrower. Irish buyers are assured of excellent financial options and a wide range if imaginative and attractive payment terms. Clients can also relax in the knowledge that the property they are buying abroad will be authentically evaluated for borrowing purposed which means the chance of buying an overpriced holiday home in the sun are vastly reduced. "
ACAP is regulated by the IFRSA and specializes in overseas lending loans for both residential and commercial properties.
ACAP, which is based in Dublin, offers mortgages in Spain, Portugal, France, Germany, Turkey, Italy, USA, Caribbean, Dominican Republic and Florida.
The company works closely with leading lenders in various countries and with a solid relationship built over 20 years with global lenders this enables ACAP to offer Irish customers as much choice as possible when looking for an overseas mortgage.
Paying for Paradise - Property Plus 14 March 2008
I’m considering buying a property in the Caribbean, where we have close family ties. What is the best way of organising a mortgage? I don’t want to put my home in Ireland up as equity if I can help it.
ACAP, who specialise in mortgages arranged through foreign banks say, “It is not necessary to use your own home as security. An international mortgage specialist usually has strong ties with foreign banks and can broker mortgages for clients using the subject property as securitisation. In the Caribbean, we have ties with three major banks which lend up to 70 percent loan to value.” Irish lenders often shy away from mortgages outside the EU. This, according to ACAP, is because regulations mean they must have a presence in more than four countries and an international brokerage is better at navigating the different legal and financial systems, and dealing in bulk with foreign banks, thus negotiating better discounts on interest rates than a bank in Ireland might, especially in markets they are not familiar with.
ACAP offers a fee-based service at around 1 to 1.5 per cent of the loan amount, which can take the pain out of trying to do business directly as well as protecting your home in Ireland. www.acapgroup.com, tel 01 6799599.
ACAP can be contacted on 01 679 9599