somefinegal

somefinegal

Apparently there are no stupid questions here.....I may be about to ask one...
I am aware that in 'some' contries there are very low mortgage interest rates, much lower than inUK. One example is Spain with cheaper mortgages than UK..using the Euro, Can 'We' in the UK using our UK home as security get mortgage funds from these cheaper alternative foreign banks? Or is it just not woth the extra costs involved such as legal translation/fees and exchange rates ?? S

BoltonMinx

Hi Somefinegal

I'm interested in this too. Just wondered if you would get a better response if you changed the title to something like "Buying UK Homes with EU Mortgage?"

Joe_Bloggs

Historically on this forum the thread starter can change the title of a thread. If you got paid in Euros then you would have a stronger reason to have a Euro mortgage. The pound fluctuates against the Euro by up to 5% in one year see http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/currency/11/13/twelve_month.stm
J_B.

dunstonh

There is an increased risk of currency rate fluctuations which could work for or against you.

dougggie

dunstonh wrote:

There is an increased risk of currency rate fluctuations which could work for or against you.

I'm interested in a mortgage linked to the US dollar (3 month LIBOR) if that means anything to anyone)....but can't find anything to say how stable interest rates are in the US or if they are more/less stable than UK rates. They're currently *very* low and seem too much like a good thing!