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Euro mortgages
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timhunter
Posts: 3 Newbie
We have a house in the UK with a UK mortgage with the Halifax and a house in France with no mortgage. We would like to reduce our mortgage repayments and are considering looking into taking out a euro mortgage on the house in France because of lower interest rates in Europe. We work in the UK and our salary is paid in sterling. Any recommendations?
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Comments
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you generally need to open a French bank account I think, but you can borrow there for around 3.75% the last time I looked. Be aware though that you need to factor in exchange rates as well as interest rates and currency fluctuations potentially have a big impact.
loans are subject to status and you can generally borrow up to 85% of the property valueI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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