We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Overseas Mortgage Advice
smileymiley_3
Posts: 2 Newbie
Hi there, any advice would be gratefully received. Hubby and I have nearly paid off the dreaded mortgage (using overpayments on flexible mortgage) and are considering buying a lovely property we've seen in France at what seems to be a great price. We'd use the French property as a holiday home and rent it out to hopefully cover a chunk of the new debt. Our problem is whether to drawdown a chunk of the reserve on our UK flexible mortgage (and take the current exchange rate in one hit) or get a French mortgage and exchange every month. On the other hand, perhaps now is not the right time to buy overseas... would really appreciate your thoughts / advice !
0
Comments
-
Have decided to go for a Euro mortgage with the current exchange rate being so bad. No redemption fees so I can always draw-down on UK offset mortgage in the future if/when the rate improves...0
-
LOL. You answered your own question.Motto: 'If you don't ask, you don't get!!'
Remember to say thank you to people who help you out!
Also, thank you to people who help me out.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.4K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards