Posted by
macca36
17 yrs ago
I am Australian looking at buying an investment property in Australia. I would like to seek advice as to whether it is better to borrow money from Hong Kong or Australia. What pros and cons are there for each. Interested to hear what other people have done.
Please support our advertisers:
Saikunga, that means your mortgage would've increased by almost 10% last friday alone. Got to be crazy to be in HKD for Aus property at the moment, long term it only has one way to go!
Please support our advertisers:
[Have another mortgage in HKD on property in Australia - no problems with exhchange rates at the moment, the interest rate is lower than Australia, and it is a switchable loan which means if and when Australias dollar weakens, and interest rates drop we can if we want to, to change to Australian dollar mortgage payments.]
I figured you had switched your Aussie mortgage into HKD in which case last week would have hurt. Not sure what exact setup you have but if your borrowing in currency you want that currency to weaken (ie AUD to strengthen) to reduce your debt.
In one week leading up to last friday the AUD fell 10% against the HKD, from $6.74 down to $6.12.
Please support our advertisers:
You must be logged in to be able to reply.
Login now
Copy Link
Facebook
Gmail
Mail