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Cyprus Mortgage/Nationwide Tracker
simdon
Posts: 46 Forumite
We have a Nationwide Tracker which is due to be renewed in Oct. We will then owe £54k over 10yrs on a house valued at £195k.
We also have a 'Swiss Franc' Mortgage in Cyprus for £80k(GBP) for which we have yet to start paying. 1st monthly instalment due June 09. This mortgage works like this, 1st 5yrs interest only. Yrs 6 to 10, Capital/Interest. Remaining 15 yrs, Capital Only. Currently 4.1%.
My question to any expert out there is; What with the low interest rate over here do we transfer our cypriot mortgage and add it to our New mortgage (from Oct) so as to save on costly money transfer fees. Or leave it as it is what with the poor £ to €. Or should we wait until the £ recovers against the € so as to lessen the amount we are borrowing?
Many Thanx, Simon
We also have a 'Swiss Franc' Mortgage in Cyprus for £80k(GBP) for which we have yet to start paying. 1st monthly instalment due June 09. This mortgage works like this, 1st 5yrs interest only. Yrs 6 to 10, Capital/Interest. Remaining 15 yrs, Capital Only. Currently 4.1%.
My question to any expert out there is; What with the low interest rate over here do we transfer our cypriot mortgage and add it to our New mortgage (from Oct) so as to save on costly money transfer fees. Or leave it as it is what with the poor £ to €. Or should we wait until the £ recovers against the € so as to lessen the amount we are borrowing?
Many Thanx, Simon
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