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Foreign currency mortgage
spanishfly101
Posts: 1 Newbie
Hello!
Does anyone here have any experience or care to share any advice on a Foreign currency mortgage.
I live in Spain and have been told about a Euro to Yen mortgage.
Many thanks,
S.
Does anyone here have any experience or care to share any advice on a Foreign currency mortgage.
I live in Spain and have been told about a Euro to Yen mortgage.
Many thanks,
S.
0
Comments
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Be careful with taking a loan in a currency different than the one you are getting paid into as you are exposed to foreign exchange risk.
What are going to do is yen is going to appreciate 30-40% against the currency you are getting paid into ?
People in eastern europe borrowed in JPY/CHF/EUR in the last 3-4 years and suffered a lot during the financial crisis as for instance CHF was perceived as a safe heaven and appreciated quite a lot.0
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