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foreign currency mortgage

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Posted by marcusboy 16 yrs ago

Has anyone taken a foreign currency mortgage? I understand the interest rate is very low as compared to one taken out in the local banks. In fact there was some information on it on Tuesday's Money Magazine programme in the local TV channel. Has anyone any experience of this? I intend to buy a small place and every bit saved on interest would be helpful. Who should I contact?

Thanks so much for the advice.

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COMMENTS

qpzmgh 16 yrs ago

Yes be very careful with foreign currency mortgages. the swings in foreign currency exchange rates can easily wipe out your nominal gains in property value.

This is a high risk strategy !

If you do go down this route you want to opt of a mortgage in a currency that has the potential to fall in value against the currency that your property is denominated in.

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marcusboy 16 yrs ago

Thanks for all the advice ;)

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foreign currency mortgage

Posted by marcusboy 16 yrs ago

qpzmgh 16 yrs ago

marcusboy 16 yrs ago

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