Cheapest INTERNATIONAL loans?

peterbaker

I did have a good evening thanks but I think it is extremely smarmy of you and not very useful to others to say you are not impressed or bored with my posts without saying what is wrong with them.

Why are you so irritable and not forthcoming with a better solution?

I_Am_Herenow

Guys, stop arguing! All I want to know is which countries' interest rates for loans are the lowest, I can take it from there.

xgingerx

Hi, hope you dont mind me asking but was just curious as to what you are going to do when you find out which country is the cheapest loan, is this for a project or are you planning on moving abroad?

just been nosey but interested

rsykes2000

I_Am_Herenow wrote: »

Guys, stop arguing! All I want to know is which countries' interest rates for loans are the lowest, I can take it from there.

I don't really think it matters which countries rates are lowest, as said above in response to your "will they give the loan to people living in the UK?" question, there is precisely zero chance of you getting a loan from a country you are non-resident. If you're seriously thinking about trying to get one, all I can advise is don't waste your time - it is a complete non-starter for you.

peterbaker

rsykes2000 wrote: »

I don't really think it matters which countries rates are lowest, as said above in response to your "will they give the loan to people living in the UK?" question, there is precisely zero chance of you getting a loan from a country you are non-resident. If you're seriously thinking about trying to get one, all I can advise is don't waste your time - it is a complete non-starter for you.

This is the same view as jonesy's except a little more politely put!

However, possibly like IamHereNow, I am generally interested in what rates are available around the world because I have friends in other countries and I travel frequently and I might have property in another country.

I am not a financial services advisor, just a punter with a modicom of worldly experience.

I was one of the first in UK to exploit balance transfers between credit cards in a very big way sufficient to avoid interest for five years (enough to buy a house). I started well before Martin started this site. In 1999 people thought I was nuts to be playing around like that moving huge balances from one card to another on a regular basis. "My Dad says you'll be attracting Special Branch attention" was one comment I got! Maybe so, but I had nothing to hide! As we know, many people soon shed their fears and got stuck in when they saw how it was done, and now the opportunity has largely passed by.

The same kind of concept might be used by a 'big-picture' thinker perhaps like the OP especially if he has equity in a number of properties in different countries. The overall net borrowed amounts required to support the equities in a property portfolio can perhaps be optimized the same way stoozers optimise credit card balances and whatever they choose to do with the stoozed cash.

I won't begin to easily accept anyone saying "You can't think like that - it's a non-starter" unless I know they are a very broad thinker themselves! I am always interested in cutting edge financial opportunities!

Debt_Free_Chick

I_Am_Herenow wrote: »

Guys, stop arguing! All I want to know is which countries' interest rates for loans are the lowest, I can take it from there.

Here you go.

Bear in mind that this is probably the base rate and, as in the UK, the actual rate you get for a personal loan is likely to be based on "other factors" including your credit rating.

Whether or not you can actually get a loan in another country is, of course, a different matter.

tom188

The fact is that currencys will move apart to represent the interest rate differential so anything you gain on interest rates will be lost by the exchange rate going against you - in short you wont be any better off. This is the same reason why people dont put money into places with sky high interest rates to get better returns. A high interest currency will devalue against a low rate currency over time.

Add to that the volatility of currency risk and your onto a loser.

peterbaker

tom188 wrote: »

The fact is that currencies will move apart to represent the interest rate differential so anything you gain on interest rates will be lost by the exchange rate going against you - in short you wont be any better off. This is the same reason why people dont put money into places with sky high interest rates to get better returns. A high interest currency will devalue against a low rate currency over time.

Add to that the volatility of currency risk and your onto a loser.

Hi Tom

Not that it is at all straightforward for a UK resident to get a Danish mortgage (I imagine*), how does your paragraph above apply to the Danish case? DKR is a stable currency and they have stable low loan interest rates apparently and have had for some years. The GBP/DKR exchange rate has been relatively stable for some years too I think. Interestingly Citibank have set up there in recent years offering loans only so far I think.

*Although it is possible for some people to get DKR bank accounts via Danish Banks operating in the UK I think.

pipraider

http://www.fxstreet.com/fundamental/interest-rates-table/